Singapore's new private home sales remained flat in July, with 484 new units sold, according to statistics released by the Urban Redevelopment Authority on Friday.
This is marginally higher than the 482 units sold in June.
The lackluster sales came as developers continued to scale back new launches. Only 434 new units were launched in July, slightly more than the 418 units launched in June. In May, 1,488 new private homes were sold as developers launched 1,819 units.
Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in spacious public housing units built and sold by the government. The private homes are typically more expensive than public housing units.
The property prices in Singapore have been stabilizing in recent months, after authorities put in place several rounds of cooling measures to curb speculation in the real estate market.