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New private home sales defy slow economy and 'Ghost month', with 1,122 units booked in August

New private home sales defy slow economy and 'Ghost month', with 1,122 units booked in August.

SINGAPORE - Developers moved 1,122 new private homes in the traditionally quiet month of August - just 4.8 per cent lower than the 1,179 units sold in July, due largely to strong sales at new launch Parc Clematis. 

The data released by the Urban Redevelopment Authority (URA) on Monday (Sept 16) excluded executive condominium (EC) units, which are a public-private housing hybrid. 

“Typically, sales are slower due to the hungry ghost festivities, resulting in fewer new launches. However, private new home sales for August crossed the 1,000-unit mark. This can be attributed to the successful new launch of Parc Clematis, selling over 316 units in August, at a median price of $1,615 psf,” said PropNex Realty chief executive Ismail Gafoor.

To read more: https://www.straitstimes.com/business/property/new-private-home-sales-defy-economic-doldrums-and-ghost-month-with-1122-units

Adapted from The Straits Times 16 September 2019

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