Sales of private homes fell for the fourth straight month in December, plummeting 20 percent month-on-month to only 481 units, according to Singapore’s Urban Redevelopment Authority (URA).
The figure is the second lowest number of monthly sales last year, following January’s low, with only 107 uncompleted homes sold.
However, December’s figure was still better than that over the same period a year ago, with 131 units sold.
The 734 units launched by property developers in December, edged just slightly down from the 923 units released in November.
In spite of the cooling market, several property brokers expect property prices in Singapore to continue to escalate this year.
According to a TV report, property broker Savills is forecasting that prices in the luxury segment will increase 15 percent in the coming year. It also reckons that prices in the mid-end and mass market could see values move upward by around 5 percent.