Singapore's Private Home Sales Weaken in June

Dow Jones

Jul 15, 2025

By Amanda Lee

Singapore's private home sales softened in June as developers held back launches for new projects.

Developers in June sold 272 units, excluding executive condominiums, down 13% from May, the Urban Redevelopment Authority said Tuesday.

Sales were muted as most developers avoided launching new projects over the mid-year school holidays, when many prospective home buyers were abroad, said Marcus Chu, chief executive at ERA Singapore, a real estate agency.

Only two projects were launched in June, said Mark Yip, chief executive at Huttons Asia. Even then, this was the first time since 2023 that projects were launched during the June school holidays, Yip added.

The latest URA data comes after the Singapore government in early July announced new cooling measures to curb housing prices.

The measures, which include higher seller stamp duty rates for residential properties, surprised some analysts since property prices had been slowing.

Singapore's private home prices grew at a slower pace in the second quarter, suggesting caution from potential home buyers amid economic uncertainty.

However, ERA Singapore's Chu said that a potential interest rate cut from the U.S. Federal Reserve later this month could help lift the market.

Write to Amanda Lee at amanda.lee@wsj.com

(END) Dow Jones Newswires

July 15, 2025 02:26 ET (06:26 GMT)

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