New home sales up 54 per cent in August

New home sales up 54 per cent in August

SINGAPORE - Sales of new private homes rose 54 per cent from July to reach 742 units in August, beating analyst estimates.

The number of new home sales had plunged to 482 in July, according to data released on Monday by the Urban Redevelopment Authority.

The project that moved the most units in August was the 337-unit The Tembusu in Kovan, which launched that month and sold 218 units.

The July slump came after the Government imposed new rules in June to discourage imprudent property loans from being made to individuals.

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