Private home sales slow
By Joyce Teo, Property Correspondent
Home transactions have declined since peaking in July. -- PHOTO: EYEB
PRIVATE home sales slowed for a fourth straight month in November.
Developers sold 600 new units in November - down from 811 units in October and 1,143 units in September, according to data released by the Urban Redevelopment Authority on Tuesday.
But developers launched 923 units last month, more than the 566 units in October. Experts have said that the market is just taking a breather, following months of hectic sales around the middle of the year, which peaked at 10,000 units in July.
The increase prompted the government to announce that it will sell more land sites and ban interest-only mortgages for uncompleted homes as part of measures to prevent excessive price swings. The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft.
Home prices rose 15.8 per cent in the third quarter, the first increase in more than a year and the biggest quarter-on- quarter gain in 28 years, the URA said last month. URA is expected to release its preliminary estimate for fourth-quarter prices on Jan 4.
The top-seller last month was Parvis in Holland Hill. Ho Bee launched 130 units in the condo project and sold 103 of them at a median price of $1,507 per sq ft. Marina Bay Suites also sold 87 units last month at an average price of S$2,159 a square foot.
Posts
No comments:
Post a Comment