The latest Urban Redevelopment Authority data for private residential property transactions showed that the monthly sales volume in June slid by 22 per cent month-on-month to 847. This figure was in line with many industry watchers’ expectations, as both developers and buyers held back launches and purchases amidst heightened uncertainty from the Eurozone debt crisis.Li Hiaw Ho, Executive Director of CB Richard Ellis Research, said: “The momentum of new home sales slowed in June as expected. Developers sold only 847 units, compared to 1,083 units and 2,208 units in May and April respectively. This translates to a total of 4,138 new homes sold in the entire second quarter of 2010, 5.5 per cent fewer than the 4,380 units sold in the previous quarter. In total, 8,518 new homes have been sold in the first six months of the year, averaging 1,420 units per month. In comparison, the average monthly sales volume in 2009 was 1,224 units.” Full Story
