Private home sales up 17% in July

Singapore private home sales jumped 17% in July from the previous month, to 1,386 units.

The Urban Redevelopment Authority (URA) said suburban area sales accounted for 754 units, or 54% of the total sold.

The city fringe accounted for 510 units, or 37%, while 9% of those sold were central area units.

Including Executive Condominiums (ECs), the total sales in July would have been higher, at 1,954.

Chalking up the best sales was Skyline Residences at Telok Blangah Road, which sold 167 units at a median price of $1,902psf.

The best selling EC was Riverparc Residence at Punggol Drive, which sold 322 units at a median price of $694psf.

The most expensive property sold in July was The Orchard Residences at Orchard Boulevard, where a unit was sold at a median price of $4,299psf.

Source: Channel News Asia

After dropping to its lowest level since Feb 2011, the wife and I are not overly surprised by the slight rebound in priivate home sales in July. However, it will interesting to see what the August figure is like, given the financial turmoil caused by the US credit rating downgrade.

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