Chart of the Day: New private home sales dropped 14.1% to 4,649 units

7th round of cooling measures take bite.

Savills said that according to the latest flash estimates, Singapore’s GDP in Q2/2013 improved beyond expectations, growing by 15.2% QoQ, faster than the 1.8% growth in the previous quarter. 

Meanwhile, the affinity for real estate has not abated as new home sales volumes in the second quarter stayed resilient despite tough measures introduced in January.

Here's more from Savills:

In June alone, 1,806 residential units were sold in the primary market, 23.8% higher than May’s volume, making it the second consecutive month of rising sales volumes.

Overall however, total quarterly new private home sales eased by 14.1% to 4,649 units compared with 5,412 units in Q1/2013, as the government’s seventh round of cooling measures started to take effect. Nevertheless, total new sales volumes in the first six months of 2013 remained healthy, with the second
highest volumes seen in the same period since 2009.