Private home sales dip, Latest Business News - The New Paper

Private home sales dip

This article is more than 12 months old

Demand for new private homes in Singapore fell last month after hitting a 15-month high in October.

Developers sold 860 units last month, a fall of 31.4 per cent compared with October, according to data released by the Urban Redevelopment Authority (URA) yesterday.

The drop contrasted sharply with October's figure of 1,253 private homes sold, and was below the expectations of market watchers.

When compared against the same period last year, last month's sales were up by 13.3 per cent from the 759 units sold.

During the month, 1,363 units - excluding executive condominiums (ECs) - were put on the market, less than October's 1,467 units.

The city fringe made up the bulk of sales last month, with 418 units sold there.

There were 404 units sold in the suburbs and 38 sold in the core central region.

URA figures also showed that 250 new EC units were sold last month, lower than the 288 new ECs transacted in October.