October new private home sales fall, rebound seen this month on new launches

Singapore

NEW private home sales slumped month-on-month in October owing to a dearth of new launches, but analysts expect sales to rebound in November, thanks to a slew of major launches.

Developers in Singapore sold 487 private homes - excluding executive condominiums (ECs) - last month, falling nearly 48 per cent from the 932 units moved in September, and 36 per cent lower than the 761 units they booked in October last year. The figures were released by the Urban Redevelopment Authority (URA) on Thursday.