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Singapore new private home sales down 24% to 1,211 units in August

Published Mon, Sep 13, 2021 · 12:36 PM

NEW private home sales slipped in August after hitting a six-month high the previous month. Based on caveats lodged, analysts estimated that developers in Singapore sold 1,211 new private homes in August, down 23.8 per cent from July's 1,589 units.

Despite the lower numbers, Ismail Gafoor, chief executive officer of PropNex, said last month's sales were "relatively healthy".

"It demonstrated the market's resiliency in spite of the lack of new launches, the Hungry Ghost Festival as well as the Phase 2 (Heightened Alert) restrictions from 22 July to 18 August," he said.

Typically, the "hungry ghosts" month is a quiet period for the property market.

Comparing year on year, the estimates are 3.7 per cent lower than…