Private home sales may spike in August: Savills

Who will dare to defy the Hungry Ghost taboo?

According to Alan Cheong of Savills research, for the month of August, we hold to our view given in June that sales may take a breather because of the interjection of the Hungry Ghost month. However, some developers may be counter culture and could still decide to launch during this period which straddles August and September.

Nevertheless, we may see new home sales coming in softer for August, but come September, should projects like Eco (752-units) be launched, new home sales, excluding ECs, should pick up and trend closer towards the 2000 unit levels seen in July.

However, if River Sails also hits the market in August, then August may see sales numbers climb closer to the highs, or perhaps even exceed those seen in the February to April period.