New private home sales fall 64% in August from July on cooling measures, Hungry Ghost Festival

URA released figures on survey of licensed housing developers showing a drop of 64.3 per cent from Jul 2018 new private home sales.

Whilst comparing against August last year, the drop is 50.6 per cent.

The decline was attributed to property cooling measures that took effect on 6 Jul 2018.

The Hungry Ghost Festival when home buyers avoid entering into property deals may also be a contributing factor to declining new private home sales.

Top selling new private home developments that contributed to total of 616 units, excluding EC, transacted in Aug 2018 were:

New Private Home Location Median Price ($psf) Units Sold
The Tre Ver mins walk to Potong Pasir MRT $1,551 164
Stirling Residences mins walk to Queenstown MRT $1,757 91
Park Colonial doorstep to Woodleigh MRT $1,713 79
Riverfront Residences near Hougang MRT $1,311 76

With the end of Hungry Ghost Month, several new condo launches are targeting a launch from Sep 2018.

One of them is much anticipated JadeScape at former Shunfu Ville.

 

For the full Business Times article, please click here.

For full project information on new condo launches, please ‘mouse-over’ New Launches at top of page.