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Secondary-market deals at lowest level since 2004

Fall partly attributed to higher cost of replacing properties under new measures

[SINGAPORE] The number of private homes changing hands in the secondary market halved from 15,678 units in 2012 to 7,695 units last year - the lowest volume since 2004, when 6,476 units were sold, according to a caveats analysis by DTZ.

Last year's drop in secondary-market transactions -...