2017.08.1504:11:00UTC+00Singapore Home Sales Rise on New Projects

Home sales in Singapore increased 35 percent in July, with more projects being launched.

Developers sold 1,108 units in the month, compared with 820 in June, according to data from the Urban Redevelopment Authority. An overall 692 units were offered, higher from 159 in June, the data revealed.

Singapore leaders delivered a series of cooling measures since 2009. The government rolled back some property-market restrictions, although it has also warned that those adjustment will not indicate an unwinding of the measures.

Property prices fell for 15 consecutive quarters, the longest decline since the data was initially published in 1975. An index that follows private residential prices dropped 0.1 percent in the three months ended June 30 from the quarter earlier. Home values tumbled 12 percent from its 2013 high.

Projects launched in July include The Martin Modern, which sold 109 of 210 units marketed, and Symphony Suites sold 73 units in the month.