Developers' sales soar by 236% MoM in July with mass market driving gains

July marked the second-highest monthly sales in 2024.

Developers’ sales more than doubled to 571 units in July, the Urban Redevelopment Authority (URA) reported.

PropNex attributed the 236.4% MoM jump in private home sales, excluding executive condominiums (ECs), to fresh project launches in the mass market segment.

PropNex said July had the highest monthly tally in four months and the second-highest monthly sales in 2024.

Amongst market segments, the Outside Central Region (OCR) was the top performer, selling 444 new units, more than three times higher than the June record of 132.

The Rest of the Central Region (RCR) also recorded a sales increase, with 106 new units moving, 49% higher than the 71 transactions in June.

In CCR, 21 new units exchanged hands, marking the region’s lowest month sales since December 2018.

Meanwhile, developers sold 37 new EC units, a 26% MoM decline.

PropNex attributed the decline to the reduced unsold EC stock in the market.

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