New home sales rise 54% in August to 742 units

Photo of a showflat at The Glades during its preview. Sales of new private homes rose 54 per cent from the preceding month to reach 742 units in August, beating analyst estimates. -- ST PHOTO: KEPPEL LAND  
Photo of a showflat at The Glades during its preview. Sales of new private homes rose 54 per cent from the preceding month to reach 742 units in August, beating analyst estimates. -- ST PHOTO: KEPPEL LAND  

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.

Other projects launched in August include the 248-unit RV Residences at River Valley, a 999-year leasehold project. It sold 39 out of 83 units launched in August at a median $2,043 psf.