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Real Estate

Singapore Private Home Sales Jump in July

  • Developers sold 43% more units in July than month before: URA
  • Project launches fast-tracked ahead of lunar seventh month
Houses and residential buildings stand in Singapore.

Houses and residential buildings stand in Singapore.

Photographer: Wei Leng Tay/Bloomberg

Private home sales in Singapore jumped to the highest in eight months as a broader economic slowdown spurred investors to park their money in a property market known as a safe haven.

Developers in the city-state sold 1,178 apartments in July, an increase of 43% from the previous month, and the highest level since November, according to data from the Urban Redevelopment Authority on Thursday. Purchases by foreigners more than doubled to 82 units, the highest in a year.