SINGAPORE: Demand for new private homes in August fell by some 27 per cent from July, with the sharpest decline seen in the mass market segment. According to the Urban Redevelopment Authority (URA), 1,421 units of new homes were sold in August. Including executive condominiums (EC), a total of 1,539 units changed hands in August – the lowest sales figure so far this year. The fall in August followed a strong rebound in July. Showflats were not as busy in August, as some home buyers stayed away during the Hungry Ghost festival. It’s traditionally a lull period for property sales, with developers launching fewer projects. Developers placed 1,118 units of new homes for sale in August. 835 units of mass market homes were sold in August, down 45 per cent from July. Director of Chris International, Chris Koh, said: “There has always been a demand for suburban projects; a lot depends on whether there are new launches for buyers to choose from. Historically, the second and third quarters are one of the best quarters in the year.” Analysts expect sales to pick up in September, especially in the second half of the month with new project launches like eCO and… Read full this story
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