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

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.