Residential buildings stands along a road in Singapore. (Photographer: Sanjit Das/Bloomberg)

Singapore Home Sales Halve in December as Buyers Take a Break

(Bloomberg) -- Private-home sales in Singapore halved in December from the month prior as developers marketed fewer projects and buyers decamped from the city-state on holiday.

  • Developers sold 602 units last month versus 1,201 in November, the Urban Redevelopment Authority said in a statement Tuesday. That took the 2018 sales tally to about 9,246.
  • The total number of apartments launched for sale in December was 101, compared with 1,342 in November.

Key Insights

  • The decline isn’t that much of a surprise with December typically a slow month for sales because buyers are away for Christmas and school holidays. Even so, sales in December were the most for that month since 2012
  • Although project launches were few, home builders managed to sell more apartments in developments that were launched in November, such as Parc Esta and Whistler Grand
  • The 92 percent slump in apartments launched for sale from November to December may sound drastic but is in line with other years
Singapore Home Sales Halve in December as Buyers Take a Break

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