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New private home sales in Singapore down 67.2% in June from May

Published on Jul 15, 2014 1:02 PM
 
Sales of new private homes plummeted drastically last month, after home seekers swept up a record number of units in May. -- PHOTO: ST FILE 

SINGAPORE - Sales of new private homes plummeted drastically last month, after home seekers swept up a record number of units in May.

Developers sold 482 units in June, down 67.2 per cent from 1,488 new homes in May, according to fresh data from the Urban Redevelopment Authority on Tuesday.

Mass-market units continued to lead sales in June, with 269 units shifted in the suburban areas.

City-fringe projects sold 167 new homes, while just 46 units were sold in the city centre.

The top selling project was City Developments' Coco Palms, with 55 units sold at a median price of $1,014 per sq ft (psf).

Wheelock Properties' The Panorama in Ang Mo Kio was next after it moved 49 units at a median price of $1,287 psf.

Wing Tai's The Crest in Prince Charles Crescent came in third with 35 units sold at a median price of $1,682 psf.

These figures exclude executive condominiums (EC).

Including ECs, a total of 531 units were sold, a 65.2 per cent dip from the 1,528 sold in May.

The once red-hot private property market seems to be finally cooling down. Prices started to run up in 2009 and peaked in 2013, but have fallen after tough government cooling measures. Could this be the right time to take the plunge? Let us know what you think:

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