Fresh Condo Launches Drive Surge in New Private Home Sales in July

More than 1,300 new private residences snapped up in July, up from 305 in June

- Isabelle Liew

Sales of new private residences rebounded in July after four straight months of decline, spurred by a pickup in new condominium launches.

Excluding executive condominiums (ECs), 940 new private homes were sold in July, up from 272 units in June, according to Urban Redevelopment Authority data. Developers launched 1,675 units in four projects in July, a significant increase from the 187 units over two launches in the month before.

July's sales were 63.2 percent higher than the 576 units sold in the same month in 2024. Including ECs, new private home sales surged to 1,311 units in July from 305 units in the previous month.

Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said the uptick in sales was led by the launch of Lyndenwoods in the Science Park district, which sold 96.5 percent of its 343 units in July at a median price of $2,463 per sq ft (psf).

"Investors may have been attracted by the opportunity to be first movers in the Singapore Science Park area, a city fringe location," he said, noting that two-bedroom units were popular among buyers.