{"id":26165,"date":"2016-09-15T14:52:28","date_gmt":"2016-09-15T07:52:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-plunge-56-as-ghost-month-deters-buyers\/"},"modified":"2016-09-15T15:08:26","modified_gmt":"2016-09-15T08:08:26","slug":"private-home-sales-plunge-56-as-ghost-month-deters-buyers","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-plunge-56-as-ghost-month-deters-buyers\/","title":{"rendered":"Private home sales plunge 56% as Ghost Month deters buyers"},"content":{"rendered":"


\nCrowds at the Treasure Crest showflat during the project\u2019s launch. (Photo: Sim Lian Group)
\nSales of new private homes, excluding executive condominiums (ECs), fell 56 percent to 473 units in August from the 1,091 units sold in the previous month, according to the Urban Redevelopment Authority\u2019s (URA) data.
\nAnalysts attributed the slump in transactions to the lack of any major new launches due to the
\nHungry Ghost Festival, which is traditionally a quiet period for the property market.
\nYear-on-year, developer sales were down about seven percent, compared with the 513 units sold in August 2015.
\nAccording to PropNex Realty, the bulk of sales last month were seen in the suburbs, where 285 units were sold, which translates to 61 percent of total sales. The city fringe sold 139 units, followed by the city centre with 49 units sold.
\nIncluding ECs, a private-public housing hybrid, the total figure rose to 805 units sold, down from 1,921 in July.
\nIn fact, the three best-selling projects in the month were ECs. Treasure Crest EC in Sengkang sold 56 units at a median price of $745 psf, followed by Sol Acres EC in Choa Chu Kang with 46 units sold ($781 psf) and Bellewoods in Woodlands with 37 units sold ($769 psf).
\nThe most popular private condo was Lake Grande, which moved 35 units at a median price of $1,317 psf.
\nLooking ahead, PropNex CEO Mohamed Ismail expects home buyers to remain cautious amid the softer market conditions.
\n\u201cWe expect new private home sales volume to be about 700 units per month, or exceeding 8,000 units for 2016. Transaction volume will continue to be launch-driven; largely dependent on the price and location of the project,\u201d he said.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Private home sales plunge 56% as Ghost Month deters buyers<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Crowds at the Treasure Crest showflat during the project\u2019s launch. (Photo: Sim Lian Group) Sales...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-26165","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6O1","jetpack-related-posts":[{"id":118645,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-hit-11-month-high-in-august-despite-hungry-ghost-festival\/","url_meta":{"origin":26165,"position":0},"title":"New home sales hit 11-month high in August despite Hungry Ghost Festival","date":"September 16, 2020","format":false,"excerpt":"\r New home sales in\u00a0August 2020 saw the fourth consecutive month-on-month increase. Photo: Woodleigh Residences Despite expectations of slower sales during the Hungry Ghost Festival, new home sales in\u00a0August increased for the fourth consecutive month since the circuit breaker measures were implemented in April. Urban Redevelopment Authority (URA) data showed\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/09\/ura-private-home-sales-data-august-2020-orangetee.png?fit=680%2C280&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":69168,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-slow-in-sept-due-to-ghost-month\/","url_meta":{"origin":26165,"position":1},"title":"New home sales slow in Sept due to Ghost Month","date":"October 16, 2017","format":false,"excerpt":"\r View of private residential properties in Singapore. Property developers sold 657 private housing units in September, down 47.3 percent from 1,246 units in the previous month, according to data released on Monday (16 October) by the Urban Redevelopment Authority (URA). Analysts attributed the big drop in sales to the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-remain-strong-in-august\/","url_meta":{"origin":26165,"position":2},"title":"Private home sales remain strong in August","date":"September 16, 2019","format":false,"excerpt":"\r Urban Redevelopment Authority\u2019s (URA) Realis data showed that developers sold 1,122 new homes in August, excluding executive condominiums (ECs). Including ECs, developers moved 1,167 units. Private home sales volume appeared to remain robust in August, despite it being a typically slow sales month. \u201cDemand in August seemed to have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98052,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-plunged-in-august\/","url_meta":{"origin":26165,"position":3},"title":"New private home sales plunged in August","date":"September 18, 2018","format":false,"excerpt":"\r Artist\u2019s impression of JadeScape, a new private housing development near Marymount MRT station. Following the introduction of new property cooling measures on 6 July, new private home sales in Singapore declined sharply in August on both a monthly and yearly basis, reported Channel NewsAsia. According to statistics published by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-august-2016\/","url_meta":{"origin":26165,"position":4},"title":"5 best-selling projects in August 2016","date":"September 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of the pool at Sol Acres EC. Source: MCL Land Property developers sold 805 housing units in August, including executive condominiums (ECs). The five top-selling projects, all located in the Outside Central Region (OCR) are: 1) Treasure Crest EC (OCR) Developer: Sim Lian Group Tenure: 99-year leasehold\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20894,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-june-2016\/","url_meta":{"origin":26165,"position":5},"title":"5 best-selling projects in June 2016","date":"July 15, 2016","format":false,"excerpt":"\r Artist\u2019s impression of Kingsford Waterbay in Upper Serangoon.\u00a0 Property developers sold 536 private residential units, excluding executive condominiums (ECs) last month, down 50 percent from the 1,065 units sold in May, revealed latest data from the Urban Redevelopment Authority (URA). Including ECs, there were 768 units sold. There were\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26165"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=26165"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/26165\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=26165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=26165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=26165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}