April new private home sales down 11.6%

Singapore

AFTER surging to an eight-month high in March, developers' sales of private homes eased last month. What piqued most analysts, however, is the broad-based demand for existing projects rather than the take-up for new launches in April.

Some saw this as a case of the glass being half full. Others were cautious.

Urban Redevelopment Authority data released on Monday showed that developers found buyers for 745 private homes last month, down 11.6 per cent from 843 units in March this year and a 36.2 per cent drop from 1,167 units in April last year. The March figure had sparked talk of an improvement in sentiment.

Developers also sold 546 executive condo (EC) units last month, higher than the 485 units in the previous month and 126 units in the year-ago period. "ECs may be back in vogue, with more owner-occupiers turning to this hybrid housing form for their affordability and mor…