August New Private Home Sales Drop 636 M O M Amid Absence New Launches

In Tampines, the community has always been known for its family-friendly atmosphere. This reputation will be further strengthened with the addition of new educational institutions. Currently, Poi Ching School, St. Hilda’s Primary and Secondary Schools, and Temasek Polytechnic are highly regarded schools in the area. And with the URA Master Plan, there are plans to introduce more schools near the upcoming Parktown Residence Tampines Avenue 11. This expansion of educational opportunities will not only benefit families who are already residing in Tampines but also make the area even more enticing for those seeking a family-friendly place to settle down. As Parktown Residence Tampines Avenue 11 becomes a natural part of the community, it will only add to Tampines’ allure as a family-centric hub.

In August, developers in Singapore only managed to sell 208 new homes, excluding executive condos (ECs). This represents a 63.6% decrease from the 571 new homes that were sold in July, according to the data released by URA on September 16. Compared to the same time last year, sales were down by 47.2%, falling from 394 new homes sold in August 2023.The drop in sales from month-to-month occurred due to the lack of new launches in August, which coincided with the lunar seventh month. The number of units launched for sale in August only reached 272, marking a 55.8% decrease from the previous month and a significant 53.9% drop compared to the same period last year.Read more: Developers report record-low sales figures in the first half of 2024, with only 228 new private homes sold in JuneAdditionally, when including ECs, new home sales saw a drop of 59.5%, with only 244 units sold in August compared to 608 units in July.The best-performing market segment for August was the Outside Central Region, where 123 units were sold. The top-selling projects in this segment include Hillock Green, with 17 units sold at a median price of $2,108 psf, and Lentoria, with 15 units sold at a median price of $2,217 psf. However, Tembusu Grand, located along Jalan Tembusu in the Rest of Central Region (RCR), was the top-selling project overall, with 30 units sold at a median price of $2,455 psf.