Singapore private home sales down 15% on-month in August

The private housing market remained in the doldrums in August, with sales of homes falling 15 per cent from the previous month as developers continued to scale back new launches.

Excluding executive condominiums (ECs), developers sold 432 new units last month, down from the 509 units sold in July, data from the Urban Redevelopment Authority showed on Monday (Sep 15). Including ECs, 490 new units were sold in August, down from 560 units in July.

The lacklustre sales came as developers continued scaling back new launches, with just 351 units launched in August, down from the 441 units launched in the previous month.

Source : Channel NewsAsia – 15 Sep 2014

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