SINGAPORE: Sales of private homes by developers in Singapore surged 52 per cent in November from a year earlier, despite government measures to cool the property market, official data showed on Monday (Dec 17).
Developers sold 1,198 units last month, excluding executive condominiums, compared with 788 units in the same month last year, data compiled by the Urban Redevelopment Authority (URA) showed.
AdvertisementOn a month-on-month basis, sales of new private homes more than doubled from the 487 units sold in October.
Including executive condominiums, 1,202 units were sold, up from 937 a year ago and 510 in October.
[h=3]READ: URA revises guidelines to reduce number of shoebox units, stem shrinking of private homes[/h]Developers launched several new projects in November, including Kent Ridge Hill Residences in Buona Vista, Parc Esta in Sims Avenue and Whistler Grand in West Coast.
AdvertisementAdvertisementIn total, 1,341 homes were launched, compared with 450 units launched in the same period a year ago and 202 the month before.
[h=3]READ: More than 30 en bloc bids fail to find buyers since cooling measures[/h]In July, Singapore introduced more measures to cool its property market with the raising of the Additional Buyer’s Stamp Duty rates and tightening loan-to-value limits on home purchases.
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