Singapore witnesses 53 pct increase in private home sales in June

SINGAPORE, July 17 (Xinhua) -- Singapore's Urban Redevelopment Authority announced on Monday that the number of new private homes sold in June increased 53 percent year on year, the Straits Times reported.

Singapore's developers sold 820 units in the month, 284 more than the 536 new private homes moved in June last year.

But on a month-on-month basis, the private home sales decreased 21 percent, compared to the 1,039 homes sold in May which was the third straight month when transactions exceeded 1,000.

According to the media, June is a traditionally lull period for the property market, as well as having fewer number of homes hitting the market.