Homebuyers spooked as Ghost Month rolls in

Expect muted sales in August and September.

The seventh lunar month will dampen private home sales in Singapore, according to analysts.

Buyers are expected to shy away from making major investments during the traditionally inauspicious period, which runs from August to September.

“We expect overall home sales in Aug-Sep to be weak with the onset of the traditionally quiet lunar Ghost Month from 14 Aug to 12 Sep,” Barclays said in a recent report.

Meanwhile, developers will hold off new launches in anticipation of policy easing, particularly in light of upcoming general elections. 

“[We] expect the next two months to be relatively quiet due in part to the Jubilee celebrations, the election fever and the lunar seventh month, which will probably spook sales. Only a handful of major projects of more than 300 units and a few prime district projects are expected for the rest of the year,” CBRE said.