New homes sold in mass market dip 16.6% QoQ in Q2

OrangeTee said the decline was due to the lack of new launches.

The number of new homes sold in the mass market or Outside Central Region (OCR) dipped by 16.6% QoQ to 503 units in Q2.

Property expert, OrangeTee, said the dip in new home sales was due to the lack of new launches during the quarter.

The volume of resale condos, on the other hand, increased by 8.6% QoQ to 2,119 units in Q2.

Despite the decrease in new home sales, overall private home transactions still rose 2.7% QoQ to 2,692 units.

Meanwhile, prices climbed for both new and resale condos by 5.1% QoQ to $1,806 psf and 4.0% QoQ to $1,264 psf, respectively.

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