July 15, 2014 / 5:01 AM / 3 years ago

UPDATE 1-Singapore June private home sales slide 73 pct from year ago

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SINGAPORE, July 15 (Reuters) - Sales of private homes by developers in Singapore fell 73 percent in June compared with a year earlier, government data showed on Tuesday.

Data compiled by the Urban Redevelopment Authority showed developers sold 482 units in June, compared with 1,806 units sold in June 2013.

The level of sales was also down sharply from the previous month, falling about 68 percent from May, when 1,488 units had been sold.

“The June school holidays and World Cup fever kept people away from the show flats. Developers are aware of this so delayed some of their major project launches for the third quarter,” said Nicholas Mak, director at SLP International Property Consultants.

“Compared with June there will be an improvement in the next quarter, although it’s going to be measured,” he added.

The data showed that sales had been weak in “The Crest”, a project developed by Wing Tai Holdings Ltd, where 132 units were launched in June but just 35 were sold.

Singapore has taken steps to cool the housing market, and private home prices have fallen for the past three quarters.

For more details, click on (www.ura.gov.sg) (Reporting by Masayuki Kitano and Rachel Armstrong; Editing by Anand Basu)

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