Singapore home sales soar in July amidst last-minute buying frenzy

1,000 units were sold on 5 July after the announcement of the cooling measures.

Homes sold in July surged by 163.6% MoM to 1,776 residential units from 654 sold units in June, the Urban Redevelopment Authority (URA) revealed. The sudden increase in the units sold can largely be due to the 1,000 units sold in one night right after the implementation of the cooling measures back in 5 July.

Said figures were the highest since the peak in March when 1,780 units were sold. Amongst sold homes in July, 1,724 were private residential units whilst 52 were Executive Condominiums (ECs).

According to ERA Realty, buyer’s sentiments cooled down right after 5 July.

Meanwhile, Colliers International noted the top pick projects in July which include Riverfront Residences which sold 628 units, Park Colonial which sold 429 units, and Stirling Residences which sold 339 units.