Singapore private home sales down sharply in December

Demand for new private homes in Singapore fell sharply in December, according to latest data from Urban Redevelopment Authority (URA) on Thursday (Jan 15).

According to the URA, developers sold 230 units of new homes last month, down 45.6 per cent from the 423 units sold in November 2014. During the month, developers launched just 53 new units for sale, excluding executive condominiums.

The mass market segment continued to lead sales with 134 units sold, followed by 61 units in the city fringe and 35 units in the core central region. The top selling project in December was Lakeville in Jurong, which moved 16 units.

Including Executive Condominiums, 406 new units were transacted last month and a total of 800 units were placed for sale by developers. The best performer in the EC segment was The Terrace in Punggol with 128 units sold.

Home sales in Singapore have weakened considerably since the Government rolled out a series of cooling measures and loan curbs in recent years.

Source : Channel NewsAsia – 15 Jan 2015

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