New private home sales in the first half of this year hit a record low in two decades. Developers only sold 1,916 units, less than half the number snapped up during the COVID-19 lockdown period in 2020. Analysts say this is because buyers are being more budget-conscious, especially in a high interest rate environment. Nasyrah
SINGAPORE – Developers’ sales crept up slightly in June, led by greater demand for homes in the suburbs, despite the lack of new project launches. Developers sold 228 new units in June, up 2.2 per cent from the 223 units moved in May, according to data from the Urban Redevelopment Authority (URA) released on July 15. The
MUTED SALES IN JUNE Property analysts attributed the marginal increase in the market due to the school holidays in June and the lack of major project launches during that period. “Developers could also have held back on launches amid near-term interest rate uncertainty and the current tentative buying sentiment,” said Ms Song. Huttons’ senior director