16 Jan '12, 5am

Private home sales fall in December

SINGAPORE: Sales of new private homes in Singapore fell 63 per cent in December to 632 units, according to data released by the Urban Redevelopment Authority (URA). That's significantly lower than the 1,702 private homes sold in November. Analysts said that's the steepest monthly decline since 2009, when the government scrapped the Interest Absorption Scheme (IAS). And sales volume could dip further as buyer's sentiment remain cautious. Units at The Palette in Pasir Ris were among the top sellers in December. Amidst the lull of the holiday period and the latest round of property cooling measure, the project managed to book 61 units. Analysts said private homes in suburban areas will continue to dominate sales volume in the coming months. In 2011, a total of 11,272 units were launched in the area, with 10,404 units sold. They accounted for over 60 per cent of launches and s...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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