Singapore, 16 Jan 2023 NEW private home sales plummeted to their lowest level since the global financial crisis in 2008, weighed down by an absence of new project launches and the seasonal year-end holiday lull.
According to data released by the Urban Redevelopment Authority (URA) on Monday (Jan 16), developers sold a total of 170 units, excluding executive condominiums (ECs), in December 2022, down 34.6 per cent from the 260 units moved in the month before.
OrangeTee & Tie’s senior vice-president of research and analytics Christine Sun added that a slump at the end of the year is par for the course, since would-be buyers were on holiday and developers held back on new launches.