Residential

TDSR continues to affect August developer sales

Despite a recovery last month, new private home sales were suppressed in August by the double influence of the TDSR framework and the Hungry Ghost month. According to the data of the Urban Redevelopment Authority (URA), there were 742 private homes transacted in August, not including the hybrid ECs, which was 54 percent higher than that of July, but just over half of 1,427 sales of last August. Mass-market residences dominated August property activities, with Outside Central Region homes accounting for 73 percent of sales and 76 percent of launches. Rest of Central Region made up 15 percent of sales and 13 percent of launches, and Core Central Region took up 12 percent of sales and 10 percent of launches. 726 EC units were sold in August, compared with 112 units sold in July. Developers launched 927 units for sale in August, ...