Private home sales slump 18.8% in 2Q12

Launched units also went down 10.9% to a total of 6,151.

According to Colliers International, developers launched and sold a total of 6,151 and 5,301 units, respectively, in the three months from April to June 2012. Although these are down 10.9% and 18.8% from the record-breaking feat of 6,903 units launched and 6,526 units sold in 1Q 2012, they are nevertheless ranked among the top three quarterly launch and sales volumes recorded since 1Q 2004 when such data was made available by the Urban Redevelopment Authority.

Here's more from Colliers International:

The dip in 2Q 2012’s launch and sales volumes can partly be attributed to the delay in the launch of new large projects. Developers had to reallocate resources to ensure conformity to the Housing Developers Rules after changes were announced in April.

These changes include the requirement for developers to provide drawn-to-scale location plans, a breakdown of a unit’s floor area by its various components (comprising bedrooms, balconies and bay windows) and details on past projects in Singapore in its marketing materials. In addition, they are also required to obtain the buyer’s consent for any alterations to the layout of a property.

Homebuyers’ unflagging appetite in spite of the potential headwinds from the volatile macro-environment and the risk of further cooling measures provided the impetus for islandwide private, non-landed home prices to stage a mild rebound by recording a 0.4% quarter-on-quarter (QoQ) rise following the momentary correction of 0.1% in 1Q 2012. This was in accordance with the preliminary estimates from the URA.