August private home sales fall 15 per cent from previous month

Potential buyers at the showroom of Panorama condominium. -- PHOTO: WHEELOCK PROPERTIES (SINGAPORE)
Potential buyers at the showroom of Panorama condominium. -- PHOTO: WHEELOCK PROPERTIES (SINGAPORE)

SINGAPORE - Sales of new homes were stagnant again in August, with developers selling 432 private homes last month.

This was a 15 per cent drop from the 509 private condominium and apartment units moved in July.

The number of new homes sold in August was 23 per cent more than the 351 homes that were launched, indicating that buyers were picking up units at projects launched earlier in the year.

August's top seller was The Panorama in Ang Mo Kio Avenue 2, which moved 40 units at a median price of $1,249 per square foot (psf).

Other popular developments included Coco Palms at Pasir Ris Grove, with 23 units sold at a median price of $1,046, and Eight Riversuites at Whampoa East, which sold 22 units at $1,345 psf.

While there were no executive condominium (EC) launches in August, 58 EC units were sold that month.

A major contributor was Waterwoods EC at Punggol Field Walk, which sold 28 units at a median price of $813 psf.

Including ECs, a total of 490 new private homes were sold in August, a 13 per cent drop from July.