New private home sales down 57.3% in Dec with fewer launches

New post added at LushHomeMedia - New private home sales down 57.3% in Dec with fewer launches

Sales of private homes last month fell 57.3 per cent from the previous month in the traditionally quiet year-end period, even as 2016 saw a continued uptick in sales, according to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 16). Excluding executive condominiums (ECs), developers sold 367 new units in December, down from the 860 units sold in November. Year-on-year, the number of new units excluding ECs sold last month was 4.4 per cent lower than the 384 units sold in December 2015. Including ECs, 580 new units were sold last month, down from 1,110 units the previous month. However, this was 14.2 per cent higher than the 508 units sold the same month a year before. The month-on-month decline in sales comes as developers scaled back new launches during the traditionally quiet year-end period. Excluding ECs, only 90 units were launched in December,...

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