Developers sell 1,024 private homes in May, down from April's 1,558 units

SINGAPORE developers' housing sales in May 2017 dropped for the second consecutive month on a month-on-month basis - amid a dearth of new launches.

They sold 1,024 private homes in May 2017, about 34 per cent lower than the 1,558 units they moved in April 2017. Last month's figure is also slightly below the 1,058 units sold in May last year.

The above figures exclude executive condominium (EC) units, which are a public-private housing hybrid.

Inclusive of ECs, developers moved 1,394 units last month, again a drop from the 1,929 units in April 2017 but a tad above the 1,392 units in May 2016.

The above figures were released by the Urban Redevelopment Authority on Thursday based on information collated from its survey of housing developers.