19 Jan '15, 12am

Poor new-home sales in December sum up placid 2014. Read More

DEVELOPERS sold just 230 private homes in the lull festive-cum-vacation month of December - down from the already-dismal 423 units moved the month before and marking a low not seen since early 2009 at the tail end of the global financial crisis. One reason for the poor sales stemmed from developers holding back launches and scaling back their marketing efforts, preferring to strategise for 2015 instead. As a result, a measly 53 units were released in the primary market, 94 per cent fewer than the 863 units launched in November. The other reason, of course, was the continued weak market sentiment; buyers were waiting on the sidelines for better price offers from developers and more attractive project launches, said Knight Frank's head of Singapore research Alice Tan. Actually, going by a year-on-year comparison, December 2014's new home sales was on par with the 259 units s...

Full article: http://www.srx.com.sg/srx/index.jsp?link=newsArticles&id=...

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