New private home sales fall to a record low of 217 in September

September marked the lowest monthly sales since December 2022.

New private home sales, excluding Executive Condominiums (EC), fell by 44.9% MoM to a record low of 217 in September, the Urban Redevelopment Authority (URA) reported.

Last month’s figure was the lowest monthly sales since December 2022, when only 170 units changed hands. Year-on-year, sales fell by 78%. It was also the lowest September sales since URA started reporting the data in 2007.

Including EC, new home sales dipped by 48.4% YoY to 335 units.

The dip in sales was likely due to the lack of big projects launched last month.

The best-selling projects in September 2023, including ECs, were Altura, Pullman Residences Newton, Lentor Hills Residences, Grand Dunman, North Gaia, The Reserve Residences, The Continuum, Midtown Modern and One Bernam.

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