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Singapore private home sales down 27% in August

Published on Sep 17, 2012 2:17 PM
Crowds thronging the showroom on the first weekend of the launch of CapitaLand’s Moshe Safdie-designed Sky Habitat condominium in Bishan. -- ST PHOTO: SEAH KWANG PENG

SINGAPORE (REUTERS) - Singapore's private home sales in August dropped 27 per cent from July to its lowest in two months, according to data from the Urban Redevelopment Authority released on Monday.

Developers in Singapore sold 1,421 residential units last month excluding executive condominiums (EC), a category of apartments reserved mainly for Singaporeans, down from 1,946 in July, but higher than 1,371 in June.

Including ECs, August home sales was 1,539 units, down 25.7 per cent from July.

The decline in home sales in August could have been partly due to the Hungry Ghost Month which typically sees fewer buyers in the market.