In the absence of large-scale projects, the new private homes sold by Singapore real estate developers in May fell by more than half from the previous month, with only 312 units sold. This is the third consecutive month that local new private home sales have slowed down.
The Urban Reconstruction Bureau (URA) released its estimated data on May's non-landed new private homes on Monday (June 16), showing that excluding the implementation of condominiums (EC), the sales of non-landed new private homes in my country fell by 52.9% to 312 units last month.
In some areas, mid-range private homes in other central districts (RCRs) are still the hottest, with a total of 191 new private home units sold in May this year. Outside the Central District, the sales volume ranked second, with 106 new private housing units sold. 15 units sold in high-end private homes in the Core Central District (CCR).
Developers only launched 20 new private housing units in May, a sharp drop of 98.5% month-on-month and a sharp drop of 92.6% year-on-year. They are all popular private housing located outside the Central District (OCR). The analysis pointed out that this scale is similar to December 2024.
Comprehensive analysts' view that the decline in sales of local non-local new private homes is mainly due to the lack of large-scale real estate projects.
Compared with the same period last year, sales of new private homes increased by 39.9% in May. Analysts believe that this highlights the uncertainty facing the local real estate market and is still resilient.