Singapore new private home sales slump 22.5% in February under 'quadruple whammy'

Singapore

NEW private home sales slumped in February under a "quadruple whammy" from the Chinese New Year lull period, a declining housing supply, cooling measures and global uncertainties from the Russia-Ukraine war.

Developers in Singapore sold 527 new private homes in February, down 22.5 per cent from January's 680 units, data from the Urban Redevelopment Authority (URA) showed on Tuesday (Mar 15). The figures are also 18.3 per cent lower than the 645 new private homes sold in February 2021.