{"id":98052,"date":"2018-09-18T11:52:23","date_gmt":"2018-09-18T04:52:23","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-plunged-in-august\/"},"modified":"2018-09-18T12:03:40","modified_gmt":"2018-09-18T05:03:40","slug":"new-private-home-sales-plunged-in-august","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-plunged-in-august\/","title":{"rendered":"New private home sales plunged in August"},"content":{"rendered":"


\nArtist\u2019s impression of JadeScape, a new private housing development near Marymount MRT station.
\nFollowing 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.
\nAccording to statistics published by the Urban Redevelopment Authority (URA) on Monday (17 Sept), developers sold 616 new private units last month, excluding executive condominiums (ECs).
\nLooking to purchase a new home? Read our\u00a0in-depth project reviews\u00a0of all new launches or check out our\u00a0buying or rental guides.
\nThis translates to a 50.6 percent slump from the 1,246 units taken up in August 2017 and a 64.3 percent plunge from the 1,724 units sold in July this year, when buyers rushed to purchase private homes on the evening of 5 July before the curbs took effect.
\nIncluding ECs, property developers moved 639 units in August versus the 1,587 units that changed hands a year ago and the 1,776 condos transacted in July 2018.
\nThe latest statistics prove that the new measures are beginning to take \u201ca significant toll\u201d on the demand for private condominiums, said OrangeTee & Tie.
\n\u201cWhile August is traditionally slower for sales and launches (due to the Hungry Ghost Festival), last month\u2019s figure is in stark contrast to the same period last year where 794 new homes were launched and 1,246 units were sold.
\n\u201cThe tighter financing rules and increased Additional Buyers\u2019 Stamp Duty of up to 20 percent for foreign buyers have also sent foreigners scurrying from the market,\u201d noted the property agency.
\nMoreover, PropNex Realty revealed that excluding ECs, August saw the lowest volume of new private home sales over the past six months.
\n\u201cIt is understandable that August\u2019s performance is slower as it is the first month right after the cooling measures were implemented, with buyers and investors still trying to understand and digest the effects (on) future pricing,\u201d said its chief executive Ismail Gafoor.
\nNevertheless, he is confident that sales of new private condos will rebound from 616 units in August to over 800 units by September due the launches of Mayfair Gardens and JadeScape.
\nIn August, the top-selling newly-launched private condo was The Tre Ver, which sold 164 out of 200 units put up for sale at a median price of $1,551 psf.
\n\u201cThe success of The Tre Ver (in) moving 82 percent of units launched in August, post-cooling measures, signals silver linings for rightly priced projects,\u201d Ismail added.
\nOther popular projects include Riverfront Residences and Park Colonial, where 76 and 79 condos changed hands for $1,311 psf and $1,713 psf respectively. Stirling Residences also moved 91 units at a median price of $1,757 psf.
\nEstimate your maximum property affordability with our\u00a0Affordability Calculator
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New private home sales plunged in August<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Artist\u2019s impression of JadeScape, a new private housing development near Marymount MRT station. Following the...<\/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-98052","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-pvu","jetpack-related-posts":[{"id":26209,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/5-best-selling-projects-in-august-2016\/","url_meta":{"origin":98052,"position":0},"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":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":98052,"position":1},"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":110797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-remain-strong-in-august\/","url_meta":{"origin":98052,"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":129834,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-down-47-6-in-august-amid-lack-of-new-launches-guocolands-lentor-modern-sold-84-of-units-at-launch-and-more\/","url_meta":{"origin":98052,"position":3},"title":"New private home sales down 47.6% in August amid lack of new launches, GuocoLand\u2019s Lentor Modern sold 84% of units at launch and more","date":"September 19, 2022","format":false,"excerpt":"\r New private home sales down 47.6% in August amid lack of new launches, GuocoLand\u2019s Lentor Modern sold 84% of units at launch and more13th September to 19th September 2022 Singapore saw new private home sales drop 47.6% to 437 units in August 2022, from 834 units in July due\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/09\/cbd-singapore-skyline-river.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":66694,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-market-on-road-to-recovery-say-experts\/","url_meta":{"origin":98052,"position":4},"title":"Housing market on road to recovery, say experts","date":"September 18, 2017","format":false,"excerpt":"\r Developer sales for the first eight months of this year has surpassed last year\u2019s total sales.\u00a0 Singapore\u2019s residential market appears to be rebounding, with private home sales reaching about 8,391 units for the first eight months of this year, surpassing the 7,972 units sold for the whole of 2016,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26165,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-plunge-56-as-ghost-month-deters-buyers\/","url_meta":{"origin":98052,"position":5},"title":"Private home sales plunge 56% as Ghost Month deters buyers","date":"September 15, 2016","format":false,"excerpt":"\r Crowds at the Treasure Crest showflat during the project\u2019s launch. (Photo: Sim Lian Group) Sales 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. Analysts\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\/98052"}],"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=98052"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98052\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98052"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98052"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98052"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}