15 JULY 2015
Transaction volumes slowed further in June as property developers sold just 375 new private homes last month (excluding ECs), down from the 638 units (or 40 per cent) sold in May — latest data from the Urban Redevelopment Authority (URA) showed today. The lacklustre sales came as developers launched just 219 new units, the lowest in the year so far. The combination of selective buying sentiments, seasonal effects of the June school holidays and fewer new launches dampened the volume of transactions.
“There are three reasons for the subdued buying sentiments; firstly, it coincided with the June school holidays — where families may be away for holidays. Secondly, there was a lack of mass market launches with developers preferring to launch their new projects at a later date. Furthermore, with loan curbs still in place, homebuyers remained selective on their purchase decisions,” commented Mr Ismail Gafoor, CEO of PropNex Realty.
