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

Get More

• Link to story on November home sales, click here
• Singapore Home Prices Post First Drop in Six Quarters (1)

To contact the reporter on this story: Pooja Thakur in Singapore at pthakur@bloomberg.net

To contact the editor responsible for this story: Katrina Nicholas at knicholas2@bloomberg.net

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