Developers’ sales fell markedly from July to August owing to a dearth of new project launches amid the Hungry Ghost month. Private new home sales declined by about 48% to 437 units (excluding Executive Condos) in August, from 834 units transacted in the previous month. This is the lowest monthly sales since April 2020 – during the circuit breaker – where 277 new units were sold. On a year-on-year basis, new home sales were down by about 64% from 1,216 units sold in August 2021, where the launch of Watergardens At Canberra helped to boost sales then.


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