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Singapore private home sales rebounds in July

Xinhua, August 15, 2016 Adjust font size:

Singapore's private home sales rebounded in July, as developers launched more units, according to statistics released by the Urban Redevelopment Authority (URA) on Monday.

Developers launched 624 private homes, excluding executive condominiums (ECs), in July, which is more than twice of the 234 units launched in June. 1,091 units were sold last month, also much higher than the 536 units sold in June.

Including ECs, about 1,486 units were launched, while 1,921 units were sold in July. The launch volumn was about six times more than that in June, according to URA.

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.

The property prices in Singapore have been stabilizing in recent years, after authorities put in place several rounds of cooling measures to curb speculation in the real estate market. Endit