Private home sales jump 42% in July

Prior to the upcoming Ghost Month, which is a traditionally quiet period in Singapore’s property market, private home sales have risen according to URA’s (Urban Redevelopment Authority) data for July.
1,943 new homes were sold last month, a 42 percent jump month-on-month (m/m) from the 1,371 seen in June.
Including executive condominiums (ECs), the sales volume climbed 20 percent m/m to reach 2,067 units.
Compared to the same period last year, July’s sales volume was up slightly by five percent.
The most popular project was Parc Centros in Punggol. 492 units were sold out of the 524 launched in July at a median price of S$924 psf.
Other projects that led the pack included Parc Olympia and V On Shenton which sold 204 and 144 units respectively.
[Source]: PropertyGuru – for the latest property news and opinions from Singapore and around Southeast Asia, visit PropertyGuru.
Singapore’s inflation is close to 6% affecting everything including property prices, we cannot afford a slowdown like in Japan that will crash the market, and we are all heading towards where Japan was like. Everything is getting unaffordable now, and the “50 year mortgage loan” is not a gimmick but a reality to ensure survival so that not all your paycheck goes to paying your monthly mortgage. The government can whitewash half truths, but they cannot bluff the market.
– Contributed by Oogle

Author: Gilbert Tan TS

IT expert with more than 20 years experience in Apple, Andriod and Windows PC. Interests include hardware and software, Internet and multimedia. An experienced Real Estate agent, Insurance agent, and a Futures trader.

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