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Singapore's private home sales drop 42 pct in June

Xinhua, July 15, 2015 Adjust font size:

Singapore's private home sales fell by 42 percent on-month in June, as developers launched fewer units, according to statistics released by the Urban Redevelopment Authority on Wednesday.

Excluding executive condominiums (ECs), some 375 new units were sold in June, a sharp decrease from 643 units in the previous month. The drop came as developers launched just 219 units in June, down from May's 500 units.

Including ECs, sales by developers fell to 485 units in June from 853 units in the previous month.

Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in spacious public housing units built and sold by the government. The private homes are typically more expensive than public housing units. Endi