Private home sales fall 47.27% to 657 in September

Blame it on the lack of new project launches.

The number of private homes sold fell 47.27% from 1,246 units in August to 657 units in September 2017, according to preliminary data from the Urban Redevelopment Authority (URA).

On a yearly basis, the figure is higher than the 509 units sold in September 2016. The figure excluded executive condominiums (EC).

Parc Life at Sembawang Crescent sold 48 units of ECs, the highest number for the month, for a median price of $795 psf.

ERA Realty key executive officer Eugene Lim commented, “The main reason for the large decrease was the absence of new project launches in September; Le Quest in Bukit Batok was launched in August, where 286 units were sold.”

“Also, a large part of the Hungry Ghost Month was in September; and this could have somewhat affected buying decisions,” she added.