Private home sales likely to have fallen 63 per cent last month

SINGAPORE - A lack of major new projects could have contributed partly to the fall of new private home sales last month.

Analysts said sales were likely to have fallen by 63 per cent, reported Channel NewsAsia.

They said this was partly due to new property loan restrictions implemented on June 29.

Based on preliminary figures from the Urban Redevelopment Authority and Singapore Real Estate Exchange, property agency PropNex said that 664 units of new private homes, excluding executive condominiums, were sold last month. This is a drop from the 1,806 units sold in the previous month.

Get The New Paper for more stories.