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Bloomberg
Singapore home sales rose 35 percent in July as new projects were launched. Developers sold 1,108 units last month, compared with 820 in June, according to Urban Redevelopment Authority data. A total of 692 new units were offered, up from 159 in June, the data showed.
Singapore’s leaders, determined to keep a lid on home prices in the city-state, have unleashed a series of cooling measures since 2009.
The government in March rolled back some property-market restrictions in eight years, although it has also cautioned that those adjustments don’t signal an unwinding of the measures.
Property prices have dropped for 15 straight quarters, the longest slide since the data were first published in 1975. Home values have dropped 12 percent from their 2013 peak.
Developers are seeing signs of a recovery. CapitaLand Ltd. Chief Executive Officer Lim Ming Yan this month said the residential property market is “bottoming out,†while City Developments Ltd. Executive Chairman Kwek Leng Beng said the “heartbeat†of Singapore’s residential property market appears to be getting stronger.
New projects launched include The Martin Modern, which sold 109 of 210 units marketed, while Symphony Suites sold 73 units last month.