New private home sales in December were hit by property cooling measures that took effect in the second half of the month, on top of the usual year-end seasonal lull.
Sales slumped 58 per cent to 650 units last month from 1,547 units in November, according to data from the Urban Redevelopment Authority (URA) yesterday.
The figures exclude executive condominiums (ECs).
Year on year, take-up was down 46.6 per cent, from 1,217 units in December 2020.
Meanwhile, developers launched just 383 new units for sale last month as they waited to see the impact of the latest property curbs.
Launches were down 70 per cent from 1,283 units in November, and 71.6 per cent lower than the 1,349 units in December 2020.
For the whole of last year, new private home sales totalled 13,118 units, the highest number since the 14,948 units sold in 2013.
This story is from the January 18, 2022 edition of The Straits Times.
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This story is from the January 18, 2022 edition of The Straits Times.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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