Sales of new private homes halved in June from May but 40% higher than year ago

An aerial view of the private estates in the Upper Thomson area.
An aerial view of the private estates in the Upper Thomson area.PHOTO: ST FILE

SINGAPORE - Sales of new private homes fell by 49 per cent in the traditionally slow month of June, after they surged to a 10-month high in May.

Data released by the Urban Redevelopment Authority on Friday (July 15) showed that developers sold 536 new units in June, down by 49 per cent from the 1,058 units transacted the month before.

Compared to a year ago, June sales were 43 per cent higher than the 375 units sold in June 2015.

The decline was largely due to the sharp drop in new project launches, owing to the June school holidays. May's sales came on the back of new launches Gem Residences and Stars of Kovan and steady sales in projects released earlier.

Developers placed just 234 new private homes for sale in June, compared with the 1,345 units launched in May. No new executive condominiums (ECs) projects were launched in both months.

In terms of location, the suburban areas led sales with 324 new units transacted. This is followed by the 166 units sold in the city-fringe and 46 units in the core central region.

The best selling private residential projects in June were Kingsford Waterbay at Upper Serangoon View which moved 34 units, followed by The Glades at Bedok Rise with 32 units and Kingsford Hillview Peak at Hillview Rise with 31 units.

When ECs sales were included, total sales came in at 768 units. That's down from a total of 1,392 units sold in May.

The top performing EC project last month was Bellewaters at Anchorvale Crescent which sold 43 units.