Singapore, 14 Sep 2022 The number of private property transactions in the first six months of this year has slowed after cooling measures were introduced in December last year.
A total of 13,311 units were sold between January and June this year, which is about one-third that of the 37,433 units sold in the whole of last year.
However, the half-year figure for 2022 is still higher than half of the 22,543 units sold in 2020, and the 19,442 units sold in 2019 before the Covid-19 pandemic.
The rising prices of private homes islandwide, coupled with interest rate hikes, may have deterred some potential buyers as well, said OrangeTee & Tie senior vice-president of research and analytics Christine Sun.