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Private home sales fall, except in city fringe in August 2012

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Private home sales dropped sharply last month, figures from the Urban Redevelopment Authority (URA) showed on Monday.

Developers sold 1,421 residential units in August, excluding executive condominiums, 27 per cent lower than in July.
But the figure was slightly higher than the 1,371 sold in June.
Including executive condominiums, 1,539 units were sold last month, down 25.7 per cent from July, The Straits Times reported.

The best seller for August was One Dusun Residences in Balestier. Buyers snapped up 153 of the 154 units launched last month.

The next most popular development was Parc Olympia in Loyang, which sold 110 units during the month, Channel NewsAsia reported.

Bartley Residences was in third place, with 70 units changing hands in August.

The URA figures showed that sales of new units in the suburban areas recorded the sharpest decline, from 1,509 units in July to 835 units last month.

Sales in the core central region also fell, from 253 units in July to 218 units in August.

But demand for new homes in the city fringe rose, with 368 units sold in August, more than double the sales in July, when only 181 units were sold.

The decline in home sales in August could have been partly due to the Hungry Ghost Festival, which typically sees fewer buyers in the market.

Last year, private home sales had also dipped in August, but by only 3.6 per cent.

Excluding executive condominiums, 1,348 units were sold in August last year, 169 of them in the city fringe areas and 65 in the city centre.
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Credit from?The New Paper
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