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Private home sales fall to three-month low

Tuesday 15 February 2011

SINGAPORE: Sales of private residential property in Singapore fell to a three-month low in January after the government announced stringent measures to curb speculative activity, including a 16 per cent seller's stamp duty for sales in the first year.

Data released on Tuesday by the Urban Redevelopment Authority (URA) showed that 1,189 private homes were sold last month.

This is an 11 per cent month-on-month drop from the 1,332 units sold in the previous month. It is also the lowest monthly sales figure since October.

As many as 588 units were sold outside the central region while the core central region accounted for 200 units sold. The remaining 401 units sold were in the rest of the central region.

A total of 1,238 units were launched in January.

Source: channelnewsasia