Singapore's residential sales rebounded in July, recovering from a more than two-year low in June, as new projects attracted buyers and the school holiday period ended.

According to data released by the Urban Redevelopment Authority on Monday, developers sold 731 new private homes last month. This compares to just 156 units sold in June and 940 units in the same month last year.

The city-state's primary home sales are partly dependent on the number of projects developers decide to bring to market, which resumed in July after grinding to a near halt in June.

Singapore's property boom has shown signs of cooling. Private home prices rose 0.5% in the second quarter, a slower pace of increase compared to the 0.9% gain in the previous three months.