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Sales of Singapore's new private homes down 4.4%

Staff Writer |
Singapore's private home sales in December fell 4.4 percent year-on-year, according to the data released by the Urban Redevelopment Authority (URA).

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URA said sales of private homes in December was 57.3 percent lower than the previous month. Excluding executive condominiums (ECs), developers sold only 367 private homes in December, down from 860 units in November.

Including ECs, about 580 units were sold in December, down from 1,110 units in the previous month.

Only 90 units were launched for sale in December due to the traditionally quiet year-end period. This is lower than 1,363 units launched in the previous month.

Private homes are those developed by private developers. About 80 percent of resident households in Singapore live in spacious public housing units built and sold by the government.

Private homes are typically more expensive than public housing units.

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