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Singapore sees a dip in number of property launches

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With fewer property launches in Singapore, private home sales decreased 69.3 per cent in August.

According to statistics published by the Urban Redevelopment Authority (URA), property developers managed to sell 495 new private homes in August; a reduction from July, when 1,611 units were sold.

These numbers exclude executive condominiums (ECs). With the sale of ECs included, 961 units were sold in August as compared to 2,106 units in July.

August saw the launch of 598 non-EC units, as compared to 1,468 in July. For numbers including EC units, 1,305 units were launched in August, a difference of more than 1,000 units compared to July’s launch of 2,623 units.

The sluggish market performance was also thought to be a result of developers focusing on launching units from existing projects.

These projects included High Park Residences in Fernvale, North Park Residences in Yishun, and Corals at Keppel Bay. The top three selling projects were High Park Residences, Botanique at Bartley and Adana @ Thomson.

Taken from iProperty

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Guest Wednesday, 21 August 2019