Sales of new private homes down 31.4% in November

Private property developers saw lacklustre sales in November, with the number of new units sold falling 31.4 per cent from the previous month, figures released by the Urban Redevelopment Authority (URA) on Thursday (Dec 15) showed.

Excluding executive condominiums (ECs), 860 new private homes were sold last month, down from the 1,253 units sold in October. Including ECs, 1,110 units were sold, down from October’s 1,542 units.

Property developers launched a total of 1,363 units in November, fewer than the 1,467 units put up for sale the previous month. The bulk of the units were from the Queen’s Peak development in Queenstown, which launched 736 units and sold 271, and the Parc Riviera project in West Coast, which launched 200 units and sold 128.

Source : Channel NewsAsia – 15 Dec 2016

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