Developers launched just 157 units last month, down from 382 in November and from 174 in October when the property sales sank to lows last seen in 2003 Sars period.

A total of 442 units were sold in the fourth quarter of last year, just a tad above the 427 units sold in the first quarter of 2003 when the Sars outbreak crippled economic activity.

The top-seller in December was the 104-unit Newton Edge in Makeway Avenue. Developer Macly Capital sold 43 units in December at a median price of $1,200 per square foot.

The 88-unit development Nova 88 in Balestier did relatively well, with 10 units sold at a median price of $988 psf.

Most of the other projects managed to sell less than three units each.