New home sales rise 2.2% in June despite lack of new project launches

Year-on-year, sales fell 18%.

New home sales, excluding executive condominiums (ECs), rose 2.2% MoM to 228 units in June despite the lack of new projects and typically slower sales due to school holidays.

Year-on-year, however, sales fell 18%. According to PropNex, June saw only 118 units from existing projects launched for sale, a decrease from 238 units in May.

The new units were from Tembusu Grand, The Lakegarden Residences, Pollen Collection, and Watten House.

Across submarkets, the Outside Central Region (OCR) led sales in June, with 132 units sold or 58% of the month's sales.

The Rest of Central Region (RCR) followed closely with 71 units sold, whilst the Core Central Region (CCR) came in last with 25 units sold.

In the EC segment, sales rose by 25% MoM to 40 units.

The most popular EC project in the month was North Gaia, with 29 units sold at a median price of $1,311 psf, followed by Lumina Grand, which sold 16 units at a median price of $1,508 psf.

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