April home sales dive 62%; May unlikely to see improvement

Singapore

SALES volumes for new private homes appear to have tumbled sharply in April as developers were forced to shutter sales galleries and prospective buyers stayed home, while the extended circuit breaker could spell a poorer performance in May.

As at May 12, data from the Urban Redevelopment Authority's (URA) Realis showed there were 277 new sales transactions of private homes, excluding executive condominiums (ECs), slumping 62 per cent year-on-year. Including ECs, which are a private-public hybrid, there were 293 new homes sold in April.