Home buyers putting capital to use

SINGAPORE: Sales of new private homes rebounded last month as more projects were launched in July.

Excluding executive condominiums (ECs), property developers sold 1,091 units in July, around double the 536 units sold in June, data from the Urban Redevelopment Authority (URA) showed on Monday. Including ECs, 1,921 units were sold, up from June’s 768 units. Recent executive condo launches include Treasure Crest and Northwave EC while existing ones include The Terrace EC, Brownstone EC, The Visionaire, Parc Life , Waterwoods EC, Signature at Yishun, Skypark Residences, Wandervale EC, The Vales EC, The Criterion EC, The Amore EC,  Bellewaters EC, Bellewoods EC.

Demand for new homes has been lacklustre in recent years owing to a slew of property cooling measures.

“The rise in sales can be attributed to improving sentiments as buyers consider putting their capital to use in view of a potentially prolonged low-interest-rate environment,” OrangeTee’s head of research and consultancy Wong Xian Yang told The Straits Times.

Of the sites launched, private development Lake Grande at Jurong Lake Link, and ECs Treasure Crest at Anchorvale and North Wave at Woodlands View showed the strongest sales in the previous month.

The stronger sales came as developers launched 1,486 units, up 1,252 from the 234 units launched the previous month.

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