New private home sales fall 58% partly due to cooling measures
The Straits Times|January 18, 2022
New units launched down 70% in Dec as developers await impact of latest curbs
Michelle Ng

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.

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