{"id":4058,"date":"2019-09-17T05:43:25","date_gmt":"2019-09-17T05:43:25","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=4058"},"modified":"2021-06-04T14:39:24","modified_gmt":"2021-06-04T07:39:24","slug":"singapore-private-home-sales-defy-ghost-month-lull","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/singapore-private-home-sales-defy-ghost-month-lull\/","title":{"rendered":"Singapore private home sales defy Ghost Month lull"},"content":{"rendered":"<p>Developers enjoy highest annual growth in years for traditionally slow period<\/p>\n<figure id=\"attachment_4059\" aria-describedby=\"caption-attachment-4059\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"size-full wp-image-4059\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1455574541.jpg\" alt=\"\" width=\"1000\" height=\"625\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1455574541.jpg 1000w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1455574541-300x188.jpg 300w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2019\/09\/shutterstock_1455574541-768x480.jpg 768w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-4059\" class=\"wp-caption-text\">Photo of Marina Bay Sands in Singapore. venesa williams\/Shutterstock<\/figcaption><\/figure>\n<p>The Singapore private residential property market has enjoyed one of its more sanguine lunar seventh months in years, new data from the Urban Redevelopment Authority showed.<\/p>\n<p>New home sales, excluding executive condominiums (EC), hit 1,122 units in August, a staggering ascent of 81.8 percent from the 617 units moved by developers a year prior.<\/p>\n<p>While the figure is lower than the 1,179 units sold in July, the August sales is relatively strong showing for a traditionally quiet period for the property market.<\/p>\n<p>\u201cPrivate home demand is considered strong as last month\u2019s sales volume [excluding EC] was one of the highest numbers registered for the month of August in recent years, and is also above the monthly average sales of 805 units for the first seven months of this year,\u201d noted Christine Sun, head of research and consultancy, at OrangeTee &amp; Tie Pte Ltd.<\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/wealthy-foreigners-pour-back-into-singapore-market\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>More: Wealthy foreigners pour back into Singapore market<\/strong><\/a><\/p>\n<p>\u201cAugust\u2019s sales volume was almost on par with July 2019\u2019s figure, which was the highest sales volume for this year,\u201d she added.<\/p>\n<p>Including executive condominiums (EC), new home sales last month reached a volume of 1,167 units or 83.3 percent higher than that of August 2018. This represents a month-on-month dip of 25 percent, which is \u201cwithin expectation\u201d because no new EC projects were launched in August, Sun noted.<\/p>\n<p>Private home demand seemed unfazed not only by seasonal taboos, but also by the instabilities besetting the city.<\/p>\n<p>\u201cBuying sentiment has remained largely sanguine despite the global market uncertainties and escalating trade tensions. Rising fears of the US-China trade war morphing into a full-blown currency war may have bolstered demand for properties here, where Singapore is widely regarded as a safe haven for long term investments,\u201d according to Sun.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Developers enjoy highest annual growth in years for traditionally slow period<\/p>\n","protected":false},"author":8,"featured_media":20280,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92],"tags":[499,414],"class_list":["post-4058","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-orangtee-tie","tag-ura","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Singapore 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