SALES of new private homes took a big hit in August month as the period coincided with the Chinese Hungry Ghost month, which is considered inauspicious for making property purchases.

Developers sold only 320 units last month, about a third of the 897 units they sold in July.

This was partly because they also held back on launches, releasing only 194 new homes for sale, a fraction of the 1,322 homes launched in July.