New private home sales rise 43.5% in July from June; up 89% with ECs

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treasure-at-tampines-new-private-home-sales-rise-43.5-percent-in-july-article

Source: The Straits Times, 15 August 2019

(link: https://www.straitstimes.com/business/property/new-private-home-sales-continue-to-rise-up-435-in-july-from-june-ura-data)

 

New private home sales by developers jumped 43.5% to 1,198 units in July 2019 from the 821 units they sold in June, which had already experienced the highest monthly sales volume of new private homes for the past 6 years (read here). With ECs included, the sales figure saw a whopping 89.3% increase with 1,556 units sold as compared to 822 units in June.

Real estate analysts attributed the stellar sales performance to buyers who are back from June school holidays and closing deals before the Hungry Ghost month of August. However the main contributing factor is still the strong underlying demand from local and foreign buyers for new private homes.

One Pearl Bank condo was the July bestseller with 197 units sold at average price of $2,353 psf. Treasure at Tampines was at 2nd position with 119 units sold at average price of $1,325 psf.

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