SINGAPORE – New private home sales slid to an eight-year low in November on dwindling unsold stock and as developers held back on major new launches amid the seasonal year-end slowdown and the latest round of cooling measures.
Excluding executive condominiums (ECs), November’s new home sales fell 17 per cent to 259 units from 313 in the previous month – the lowest sales since December 2014, when 230 units were taken up.
The drop was even starker compared with a year ago – an 83 per cent plunge from 1,547 units sold in November 2021.
The number of new private homes (excluding ECs) released for sale rose to 319 in November from 102 in October, according to data released by the Urban Redevelopment Authority on Thursday. This compared with 1,283 units launched in November 2021.
Three small boutique projects – Hill House in River Valley, Sophia Regency near Orchard Road…
