16 Jan '12, 11pm

New private home sales plunge in December as measures bite: SINGAPORE - New private home sales in December fell

SINGAPORE - New private home sales in December fell 63 per cent from November, hit by a triple whammy that included the imposition of additional buyer's stamp duties, the uncertain economic outlook and a seasonal lull amid the year-end festive holidays. Developers sold 632 private homes in December, data from the Urban Redevelopment Authority showed yesterday, the lowest number since December 2009. In November, sales rose 22.3 per cent from a month earlier. Compared with the same month a year earlier, private home sales fell 52.6 per cent in December. "This result was as predicted when the policy was implemented," said spokeswoman Carolyn Goh for real estate agency PropNex Realty, referring to the additional buyer's stamp duties effective from Dec 8. "Cautious sentiment prevailed in December, with potential private home buyers preferring to keep their options open before c...

Full article: http://www.todayonline.com/Business/EDC120117-0000071/New...

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