Developers sell 228 new private homes in June, and new private home sales reach record low in 1H2024

Property developers sold 228 new private residential homes (excluding Executive Condos) in June, and this marks a monthly increase of 2.2% from the 223 units moved in May, according to the latest developer sales statistics published by URA on July 15. The best-selling project, in terms of units sold, last month is The Lakegarden Residences which moved 23 units at a median price of $2,119 psf. However, the number of private residential units sold by developers last month is 18% less compared to the 278 units moved in the same period last year. Get the latest details on available units and prices for The LakeGarden Residences Advertisement Advertisement Moreover, the first six months of this year is the lowest half-year sales since 2004, when URA record were available, based on data compiled by Orange Tee. In 1H2024, developers only moved 1,916 new private residential homes (excluding ECs) which is 43.4% less than the 3,383 units sold in 1H2023. The sales figure in 1H2024 is also 54.6% less than the 4,222 units sold in 1H2022. According to Christine Sun, chief researcher and strategist at OrangeTee, the sales figure for 1H2024 is lower than the sales numbers recorded during the Global Financial Crisis when only 2,287 units transacted in 1H2008. During Singapore’s Covid-19 lockdown in 1H2020, developers were still able to transact 3,862 units. Check out the latest listings for The Lakegarden Residences properties