Singapore New Home Sales Hit 17-Year Low Amid Launch Freeze

Developers moved just 156 new private units last month, excluding executive condominiums. This performance represents a 65% decline from May figures and a 43% drop compared to the same period last year, according to Urban Redevelopment Authority data released Wednesday. Industry analysts attribute the stagnation to the school holiday season, which historically dampens buyer interest and leads firms to pause their marketing calendars.

Mark Yip, chief executive of Huttons Asia, suggests this lull is a tactical retreat rather than a structural collapse. Looking ahead, he projects that new residential launches will reach roughly 7,000 units for the full year, a volume not seen since 2023. Forecasts for total annual sales remain pinned between 7,500 and 9,000 units as the market navigates a quieter mid-year cycle.