Tightening Measures Working Too Well? SG Private Home Sales Down 72.1% Y/Y

New private home sales in Singapore remained in the doldrums in January, as developers held back launches and lending restrictions depressed demand.

According to data from the Urban Redevelopment Authority (URA), developers sold just 565 new private homes last month, up from December’s four-year low of 259 units.

Last month’s figure was, however, well below the 2,028 units sold in January 2013.

Singapore’s residential property market has slowed since the middle of last year, following moves by authorities to cap the amount of money people can borrow.

Investors are also concerned about the upcoming supply of new units, and property analysts say private home prices could fall by as much as 15 percent this year.

ChannelNewsAsia

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.