Singapore's new private home sales fall 58% in Dec on cooling measures, holiday season

NEW private home sales in Singapore slumped during the final month of 2021, as a double whammy of year-end festivities and fresh property cooling measures weighed on transaction volumes.

Based on caveats lodged, analysts estimated that property developers sold 643 residential units, excluding executive condominiums (ECs), in December 2021.

That is down 58.4 per cent from the 1,547 units booked in November. On a year-on-year basis, the latest estimates are 47.2 per cent lower than the 1,217 new private homes sold in December 2020.