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View Full Version : Singapore new home sales dip slightly in March from Feb



reporter2
21-04-12, 03:30
http://business.asiaone.com/Business/News/Story/A1Story20120416-340087.html

Monday, Apr 16, 2012

Reuters

Singapore new home sales dip slightly in March from Feb


SINGAPORE - New private home sales in Singapore dipped slightly in March from February but remained high by historical norms, indicating continued strong demand for apartments in the city-state despite measures to cool the housing market.

Developers in Singapore sold 2,393 residential units last month, down about 1 per cent from 2,417 in February, according to data compiled by the Urban Redevelopment Authority (URA).

However, the figure was well above the 1,872 units sold in January.

Including executive condominiums, a category of apartments reserved primarily for Singaporeans, a total of 3,032 units were sold in March compared with February's 3,142.

Singapore home prices fell 0.1 per cent in January-March from the preceding quarter - the first drop in nearly three years - hurt by government measures to discourage speculative demand.

But transaction volume has remained strong due to low interest rates, a wave of immigration to the city-state and, in recent years, a shortage of new supply from the government agency tasked with housing 80 per cent of the population.

The Housing and Development Board (HDB) has since stepped up its home building programme.