SINGAPORE: Sales of new private homes in Singapore fell in June, the first dip after five straight months of increases in 2023.
Excluding executive condominiums, developers sold 278 units in June, a 73.2 per cent drop from the 1,039 units sold in May, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jul 17).
On a year-on-year basis, private home sales fell by 43 per cent from the 488 units sold in June 2022.
The number of units launched for sale also saw a significant decline, with the 31 units launched in June 98.1 per cent lower than the 1,595 units in May, and 92.2 per cent lower than the 397 units in June 2022.
Analysts said the decrease in private home sales was due to a lack of major project launches in June, with the 17-unit Lavender Residence being the only project launched that month.<