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Ghost Month spooks subside as home sales surge 81%

New market launches have reversed the yearly trend of downward sales.

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Private new home sales skyrocketed 81.1% YoY to 1,122 units (excluding ECs) in August compared to the 617 homes transacted over the same period the previous year, according to real estate agency PropNex.

Ghost Month spooks subside as home sales surge 81%

Compared to the previous years, this month’s performance bucked the trend of slower sales during the period due to the successful launch of Parc Clematis, which sold 316 new units in August at a median price of $1,615 psf, according to PropNex CEO Ismail Gafoor.

Other mass market projects, such as Treasure in Tampines and the Florence Residences, also appealed to buyers and investors, added Gafoor.

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August private home sales down 4.8% from July: URA

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