New Private Home Sales Drop for 4th Straight Month Amid Cautious Market

New private home sales fell for a fourth straight month in June amid cautious market sentiment and the mid-year school holiday lull.

- Isabelle Liew

Excluding executive condominiums (ECs), 272 new private homes were sold in June, down from 312 units in May, even as more newly launched units were put on the market, according to Urban Redevelopment Authority data. Developers launched 187 units across two projects in June, a significant increase from just 20 units in May.

June's sales were 19.3 per cent higher than the 228 units sold in the same month in 2024.

Including ECs, new private home sales fell to 305 units in June from 336 in the previous month. No new EC units were launched in June.

Mr Marcus Chu, chief executive of real estate agency ERA Singapore, said the tepid performance was due to the smaller scale of the two launches in June.

"Both Arina East Residences and Amber House are freehold developments that appeal to buyers seeking properties for legacy planning," he noted.

Arina East Residences, a 107-unit development in Tanjong Rhu, and the 105-unit Amber House in East Coast were launched at median prices of around $2,900 per sq ft (psf).

Escalating global trade tensions and geopolitical conflict dampened market sentiment in June, said Mr Leonard Tay, research head of real estate consultancy Knight Frank Singapore.

"The seasonal off-peak period during the June school holidays also contributed to the lacklustre activity," he added.