August new private home sales drop 63.6% m-o-m amid absence of new launches

SINGAPORE (EDGEPROP) - Developers sold 208 new homes excluding executive condos (ECs) in August — a 63.6% drop m-o-m from the 571 new homes sold in July, based on data released by URA on September 16. On a y-o-y basis, sales were down 47.2% compared to 394 new homes sold in August 2023. The m-o-m drop in sales follows the absence of new launches for sale in August, which coincided with the lunar seventh month. The number of units launched for sale in August fell to 272 units, 55.8% lower m-o-m and a 53.9% drop y-o-y. Read also: Developers sell 228 new private homes in June; 1H2024 numbers a record low Advertisement Advertisement Including ECs, new home sales fell by 59.5% from 608 units in July to 244 units in August. The top-selling project in August was Tembusu Grand. The 640-unit condo located along Jalan Tembusu in the Rest of Central Region (RCR) moved 30 units at a median price of $2,455 psf. However, the Outside Central Region was the best-performing market segment last month, with 123 units sold. Top sellers include Hillock Green with 17 units sold at a median price of $2,108 psf; and Lentoria with 15 units sold at a median price of $2,217 psf.