Govt Cooling Measures Working As Singapore New Homes Sales Fell By 80%

Sales of new private homes plunged nearly 80 per cent in December compared to a month ago, as developers held off new property launches.

According to data from the Urban Redevelopment Authority (URA), just 259 units of new private homes were sold in December, down from 1,228 units transacted in November.

Among the units sold, 125 are located in the suburban areas, 90 units in the city fringe, and 44 units in the core central region.

For the whole of 2013, total private home sales amounted to about 15,000 units — levels last seen during the global financial crisis five years ago.

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.