New private home sales tumble due to lack of new launches

New private home sales tumble due to lack of new launches

  • New private home sales drop in August as developers held back condo launches during Hungry Ghost month
  • Ample demand from HDB upgraders, but limited supply of new homes
  • Projects in the Core Central Region sold more than half of total new homes transacted in August 2022, due to lack of supply in the mass market region
  • Demand of CCR projects also comes as foreign demand recovers with the reopening of the border
  • We can see developers taking a break in August, but can expect new launch demands to go up (Lentor Modern sold over 80% on launch day)
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