Singapore's new private home sales bounce by 65% in September

New private home sales bounced back by 65 percent on month in September, the city-state's Urban Redevelopment Authority said on Wednesday. Excluding executive condominiums, a public-private housing hybrid, a total of 1,246 units of new private homes were sold in September, up from the figure of 756 in August. In particular, there were 382 new private homes sold in the suburb, while 815 units were sold in the city fringes. Another 49 new private homes were sold in the city. On the supply side, developers launched a total of 1,806 new units in September, much higher than the 979 units in August. If executive condominiums are included, there were totally 1, 658 units sold in last month. The city-state has announced several round of measures which have had a cooling effect on the property market. The most recent of these was the Total Debt Servicing Ratio (TDSR) which came into effect in June. Transactions declined sharply to 482 units of private homes in July. The surge was following the sharp decline in July amid the loan curb which caps the total debt servicing ratio of property loans to 60 percent of income.