Analytics In Motion | New Home Sales June 2023

New home sales dipped last month due to a lack of sizable project launches. Only 31 private homes were launched in June. According to data from the Urban Redevelopment Authority (URA), new home sales, excluding executive condominiums (ECs), dipped by 73.2 per cent from 1,039 units in May to 278 units in June this year. Including ECs, sales decreased by 71.9 per cent from 1,056 units to 297 units over the same period. Demand for new private homes shrank as there was only one small project launched last month, the 17-unit Lavender Residence, which sold 8 units. Previously launched projects continued to sell units. For instance, The Reserve Residences moved another 79 units in the previous month. The other best-selling projects, including ECs, were Leedon Green, North Gaia, Van Holland, The Atelier, Pullman Residences Newton, Grange 1866, Piccadilly Grand, and One Pearl Bank.

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