Transaction volumes remained tepid in the month of August due to the Hungry Ghost Festival. With current housing policy remaining unchanged together with the Hungry Ghost Festival, many prospective buyers stayed away from the market, with developers also delaying their launches to September or later.
Property developers sold 432 new private homes last month, down marginally from the 484 units sold in July, latest data from the Urban Redevelopment Authority (URA) showed today. The lacklustre sales came as developers launched just 351 new units, the lowest in the year so far.
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