Updated: 01/16/2014 00:11

Demand for new private homes plunged in December



Demand for new private homes plunged in December

Demand for new private homes plunged nearly 80 per cent in December compared to a month ago as developers held off new property launches. 

According to data from the Urban Redevelopment Authority or URA, some 260 units of new private homes were sold in December, down from some 1,230 units transacted in November. 

URA data showed that about 120 new units were launched in December. 

With the exception of one unit in the suburban area, the rest of the new private homes launched were in the city area. 

Including sales from executive condominium projects, 333 new units were sold in December, down from about 1,700 units in November.

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