Weekly Wrap: New private home sales sink to 16-year low. What’s the outlook?

Fresh URA data shows new private home sales plunging to a record 16-year low for the month of August with only 208 private homes sold. Developers held back on new launches during the seventh month of the Chinese lunar calendar, also known as the Hungry Ghost month, and the impact of elevated interest rates. Meanwhile, the leasing market remained muted for both HDB and private condominiums. As we head into the last quarter of 2024, will the real estate market improve? Donny Lee, ERA Senior Executive Group Division Director, shares his views. See omnystudio.com/listener for privacy information.