Private home sales see year-on-year uptick in June

Private home sales see year-on-year uptick in June

SINGAPORE: Despite it being the school holiday period, June saw the sale of 820 private home units - excluding executive condominiums - which is a 52.9 per cent rise from a year ago, according to figures released by the Urban Redevelopment authority (URA) on Monday (Jul 17). 

The figure is a 21.1 per cent fall from the 1,039 units sold in May.

Developers launched just 159 units in June this year. A total of 370 units were launched in May, while April saw a launch of 1,616 units. 

Including ECs, 1,064 homes were sold in June, down from May's 1,416 units. No new EC units were launched last month. 


Responding to the figures, ERA key executive officer Eugene Lim said the transaction volume of 820 units last month "do indicate an active market". 

While the 21.1 per cent decrease from May was expected due to a quieter market during the school holiday period, Mr Lim said the 52.9 per cent year-on-year jump shows that "buyer interest has clearly grown since last year". 

"Most of them are of the opinion that the private residential market is bottoming out and they are buying with longer term prospects in mind.

Also, with recent land prices trending upwards, many buyers might have decided to commit to a purchase now rather than later; as prices for these projects from recent land sales are likely to be priced higher when they are launched next year," Mr Lim said. 

Source: CNA/dl