New private home sales plunge in December as developers cut back drastically on launches

SINGAPORE - Developers launched just 53 new private homes for sale in December, down from the revised 863 units in November, while 230 units were sold, down from a revised 423 units the previous month, according to figures from the Urban Redevelopment Authority (URA) released on Thursday (Jan 15).

Monthly sales have not been this low since January 2009, when buyers picked up 108 units. Developers also put out a record low of units last month, falling below the 118 units launched in December 2013.

For the whole of 2014, units sold dropped by half to 7,378 units compared with the previous low of 4,264 units in 2008.

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