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New home sales in Singapore nearly double in May from April

Published on Jun 16, 2014 1:10 PM
Potential buyers at the launch of the Coco Palms condominium at Pasir Ris on May 17, 2014. -- PHOTO: CITY DEVELOPMENTS LIMITED

SINGAPORE - Home seekers continued to sweep up new private homes last month, nearly doubling their purchases from April.

Developers sold 1,470 units in May, up a whopping 97.3 per cent from 745 units in April, which was itself a five-month high, according to Urban Redevelopment Authority (URA) figures released on Monday.

May's sales marked the highest demand for new homes since June last year, when 1,806 units were sold.

Mass-market units in the suburbs led demand in May, with 944 new homes sold. This accounted for more than half of all new homes sold in the month.

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