Property market cools as 1,078 new homes sold in May

Singapore’s property market cooled significantly in May with just 1,078 units of new private homes sold.

This is about 50 per cent lower than the number of homes sold in April.

Data released Tuesday by the Urban Redevelopment Authority, URA, showed a decline in transactions across all segments.

Homes located in the city fringe were most popular during the month with 451 transactions.

However, this number pales in comparison with the 1,044 deals done in April.

Sales of new homes in the city dipped to 179 units in May, down from the 392 units sold the month before.

While sales volume of homes in the suburban areas fell from 771 units in April to 448 units last month.

Source : Channel NewsAsia – 15 Jun 2010

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