15 Nov '11, 9pm

[News] Sales of new private homes fell 14.9 per cent in October from the previous month but the number of...

SINGAPORE - Sales of new private homes fell 14.9 per cent in October from the previous month but the number of units sold in the month outstripped the number launched, suggesting underlying demand remained strong. Developers launched 1,337 private residential units last month but a total of 1,387 were sold, down from 1,631 units in September, the Urban Redevelopment Authority (URA) said yesterday. The latest sales data marked a reversal from September's 20.7 per cent month-on-month increase. Dr Chua Yang Liang, Jones Lang Lasalle's head of research for South-East Asia, said: "If you look at it from a large perspective, you notice that the demand, in terms of take-up rate, still maintains fairly strong at over 90 per cent. In fact, this month, it came in at about 104 per cent." Mr Mohamed Ismail, chief executive of PropNex Realty, said: "The decrease in transactions, compar...

Full article: http://www.todayonline.com/Business/EDC111116-0000063/New...

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New private home sales down 15% in October

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