June new private home sales plunge 68%

By The Folks @PropTalk - July 15, 2014 No Comments

Looks like someone beat us to this...

Sales of private homes by developers in Singapore fell by about two-thirds in June from May, hurt by ongoing Government measures to cool the housing market.

Data compiled by the Urban Redevelopment Authority (URA) on Tuesday (July 15) showed developers sold 482 units in June, down 68% from May when sales of 1,488 units were booked.

The bulk of the sales involved homes located outside the central region, with 269 units changing hands. Another 46 sales were made in the central region, while the rest of central region accounted for 167 units, the URA data revealed.

Coco Palms at Pasir Ris Grove was the top selling project of the month with 55 out of the 100 units launched snapped up at a median price of $1,014psf.

The Panorama at Ang Mo Kio, which was re-launched at a lower price in May, moved another 49 units at a median of $1,287psf, making it second best-selling project in June.
Info source: CNA

The wife and I would like to offer another possible explanation for the dismal June sales:


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