New private home sales sink further in November amid holiday lull

SALES of new private homes continued to sink in November, setting a new low amid a dearth of launches and the traditional year-end holiday lull. 

Developers in Singapore sold a total of 259 units last month, excluding executive condominiums (ECs), going by data released by the Urban Redevelopment Authority on Thursday (Dec 15). This was a 17.3 per cent decrease from October’s 313 units, and 83.3 per cent lower than in November 2021. 

Including ECs, 445 units were sold in November, down from the 811 units sold in October, and a 72.4 per cent plunge from the previous year.