(July 15): Singapore home sales fell to a more than two-year low in June as developers refrained from launching projects during the school holiday period, when many buyers travel.
Developers sold 156 new private units last month, according to figures released Wednesday by the Urban Redevelopment Authority. That compares with 447 in May and 272 a year earlier and marks the weakest month since February 2024.
New home sales in the city-state hinge largely on how many projects developers choose to bring to market, and June was at a standstill. The dearth followed a stretch earlier in the year when a wave of fresh projects pulled buyers back in. Developers are set to resume launches this month, which could drive a resurgence.
Singapore’s housing boom has shown signs of moderating. Prices of private homes climbed 0.5% in the second quarter, slowing from 0.9% in the previous three months, according to preliminary estimates by the URA. The authority is scheduled to report final figures on July 24.
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