Analytics In Motion | New Home Sales July 2023

New home sales jumped to the highest in more than a year on four key project launches, data from the Urban Redevelopment Authority (URA) showed. Developers brought forward their sales launches ahead of the lunar seventh month, which is deemed by some buyers to be an inauspicious period to purchase a big-ticket item. The number of new sales, excluding executive condominiums (ECs), rebounded by a whopping 407.9 per cent from 278 units in June to 1,412 units in July 2023, the highest sales since November 2021 with 1,547 transactions. On a year-on-year basis, last month’s sales rose 68.9 per cent from 836 units in July 2022. Including ECs, sales increased by 395.3 per cent from 297 units in June 2023 to 1,471 units in July 2023.

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