SINGAPORE – Developers sold 1,198 private homes in July, up 43.5 per cent from the 821 units they moved in June, but 31.7 per cent lower than the massive 1,724 units they moved in July last year in the last-minute rush to beat property cooling measures.

June had already seen the highest monthly sales of new private homes in six years, with more buyers snapping up freehold condominium units.

For July, developers launched 911 units for sale, an increase of 36 per cent from 670 units in May but a sharp drop from the 2,239 units in July last year.

The figures – which exclude executive condominium (EC) units – were released by the Urban Redevelopment Authority on Thursday (Aug 15) based on its survey of licensed housing developers.

Including ECs, developers sold 1,556 units in July, a hefty 89.3 per cent increase from 822 units in June. This was 12.4 per cent less than the total 1,776 private and EC units sold in July last year.