New home sales rise 54% in August to 742 units
Sales of new private homes rose 54 per cent from the preceding month to reach 742 units in August, beating analyst estimates.
Analysts had earlier forecast that sales of new private homes would come in at between 500 and 700 units. The numbers exclude executive condominiums.
The number of new home sales had plunged to 481 in July, 73 per cent lower than June's figure of 1,806 units sold.
The project that moved the most units in August was the 337-unit The Tembusu in Kovan, which launched that month and sold 218 units at a median $1,547 per sq ft, according to data released on Monday by the Urban Redevelopment Authority.