16 Jan '14, 4am

Almost 80% slump in new private home sales in December was seen in the latest URA release yesterday. Read more below.

Almost 80% slump in new private home sales in December 15 Jan 2014 Slump largely due to fewer launches during the festive period, with buyers holding out for better deals Developers sold only 259 private homes, excluding executive condominiums (ECs) in December 2013, down almost 80% from the 1,228 units sold in November. Including ECs, developers found buyers for 333 homes, which also reflect a plunge of 80% from the previous month’s figure of 1,714 units. For the entire 2013, developers moved a total of 15,162 units, or a monthly average of about 1,200 units. This figure is much lower than the 22,668 units that were registered the same time last year (or about 33% lower). The pace of new launches slowed dramatically in December — which is traditionally a lull period in terms of home buying. Only a paltry 118 new homes went on to the market, compared with the 1,293 new uni...

Full article: http://www.propnex.com/mediareleasedetails.aspx?PressID=231

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