Developers sold 2,344 private homes in Q2, up 65.2 per cent from Q1

DEVELOPERS have sold 2,344 private homes excluding executive condos (ECs) in the second quarter of this year based on preliminary figures from the Urban Redevelopment Authority (URA) released on Friday. URA will issue its final numbers for Q2 2016 later this month.

The 2,344 private housing unit sales for Q2 is 65.2 per cent higher than the 1,419 private homes that developers moved in the first quarter of this year. The preliminary second quarter figure is also 10.8 per cent ahead of the 2,116 units for Q2 of last year.

In Q2 this year, developers also found buyers for 1,116 EC units (a private-public housing hybrid form) - 46.5 per cent more than the 762 EC units that they sold in Q1 this year; the preliminary second quarter figure is about 2.5 times the 439 EC units that developers moved in the same period last year.