Singapore home sales climb 13% in November

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Inflora condos SingaporeHome sales in Singapore rose 13 per cent in November 2013 from a year ago, as developers marketed new projects, ending four months of declines that followed loan measures to curb property prices. Sales rose to 1,228 units last month compared with 1,087 in November 2012, according to data from the Urban Redevelopment Authority released on December 16, according to Bloomberg. From the previous month, sales increased 15 per cent, the data showed.

Home sales rebounded in November after declining in the previous four months compared with year-ago figures after the government imposed new rules in June governing how financial institutions grant property loans to individuals.

Among the developers that began sales of their projects was Ophir-Rochor Residential Pte, which sold 600 of 660 units marketed at its Duo Residences, in the central area, according to the URA. Singland Homes (Alexandra) Pte sold 171 of 200 units at its Alex Residences project, the data showed.

Record home prices amid low interest rates raised concerns of a housing bubble and prompted the city-state to introduce new taxes and higher minimum down-payments since 2009 to curb speculation in Asia’s second-most expensive housing market.

Prices and transaction volumes of Singapore residential properties are expected to moderate for the rest of the year due to the cumulative impact of government property measures, CapitaLand Ltd., Southeast Asia’s biggest developer said on Oct. 31. Developers are beginning to cut prices in existing and new projects and take lower profit margins, City Developments Ltd., Singapore’s second-largest developer, said on November 12.

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Reading Time: 1 minute

Home sales in Singapore rose 13 per cent in November 2013 from a year ago, as developers marketed new projects, ending four months of declines that followed loan measures to curb property prices. Sales rose to 1,228 units last month compared with 1,087 in November 2012, according to data from the Urban Redevelopment Authority released on December 16, according to Bloomberg. From the previous month, sales increased 15 per cent, the data showed.

Reading Time: 1 minute

Inflora condos SingaporeHome sales in Singapore rose 13 per cent in November 2013 from a year ago, as developers marketed new projects, ending four months of declines that followed loan measures to curb property prices. Sales rose to 1,228 units last month compared with 1,087 in November 2012, according to data from the Urban Redevelopment Authority released on December 16, according to Bloomberg. From the previous month, sales increased 15 per cent, the data showed.

Home sales rebounded in November after declining in the previous four months compared with year-ago figures after the government imposed new rules in June governing how financial institutions grant property loans to individuals.

Among the developers that began sales of their projects was Ophir-Rochor Residential Pte, which sold 600 of 660 units marketed at its Duo Residences, in the central area, according to the URA. Singland Homes (Alexandra) Pte sold 171 of 200 units at its Alex Residences project, the data showed.

Record home prices amid low interest rates raised concerns of a housing bubble and prompted the city-state to introduce new taxes and higher minimum down-payments since 2009 to curb speculation in Asia’s second-most expensive housing market.

Prices and transaction volumes of Singapore residential properties are expected to moderate for the rest of the year due to the cumulative impact of government property measures, CapitaLand Ltd., Southeast Asia’s biggest developer said on Oct. 31. Developers are beginning to cut prices in existing and new projects and take lower profit margins, City Developments Ltd., Singapore’s second-largest developer, said on November 12.

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