Sales of New Private Homes Drop by 34% in May

The number of new private homes sold in May has reduced drastically from April to May 2017. 1,024 units were transacted in May and this is a 34% decrease coming in from April when 1,558 new private homes were sold by developers.

Together with Executive Condominiums (EC), a total of 1,394 private homes were moved last month.

The top-selling private condo in May was Parc Riviera, located in West Coast Vale, where 83 units were sold and Sol Acres EC in Choa Chu Kang took the top spot for most number of EC units sold with 116 units transacted.

This dip in sales numbers for private homes comes as developers launched fewer projects in May. There were only 339 new units placed on the market last month, compared to 1,616 new units in April, with no new ECs launched at all.