December new private home sales down 57% from November, 4% lower than a year ago

An aerial view of private residences and HDB flats near Tree House condominium.
An aerial view of private residences and HDB flats near Tree House condominium.PHOTO: ST FILE

SINGAPORE - As developers held back launches in the year-end holiday lull period, sales of new private homes in Singapore slid in December over the previous month.

Developers sold only 367 units last month, a fall of 57.3 per cent compared with 860 units in November, according to figures released by the Urban Redevelopment Authority on Monday (Jan 15).

They launched only 90 units for sale last month compared to 1,363 in November

Sales last month were also slightly lower compared to December 2015 when developers moved 384 new private homes, after launching 173 units.

URA's December numbers also showed that 213 new EC units were sold last month, lower than the 250 units transacted in October.

This brought total sales of new homes, both private units and EC, to only 580, about half November's 1,111 units, though higher than the 508 homes developers sold in December 2015.

The Straits Times reported last week that more condo developers are offering incentives such as deferred payments to move unsold units.