15 Feb '13, 5am

Singapore home sales rise as buyers rush sales ahead of government curbs

Singapore home sales rise as buyers rush sales ahead of government curbs

Singapore home sales rose 43 percent in January from the previous month as buyers rushed to purchase homes right after the government announced cooling measures to ease residential prices. Home sales increased to 2,013 units in January from 1,410 units in December, according to data released by the Urban Redevelopment Authority today. Sales reached 22,699 units in 2012, according to calculation by Bloomberg News based on the government data, which dates back to 1996. “This is a bit of an abnormality and the increase was a bit of a surprise,” said Nicholas Mak , the executive director at SLP International Property Consultants, who said developers extended the hours of their sales office on the eve of the curbs. “February will be lower than January because this is when the effects of the cooling measures will be felt.” Singapore home prices reached a record high in the fourt...

Full article: http://www.bloomberg.com/news/2013-02-15/singapore-home-s...

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