Singapore Home Sales Decline as Property Curbs Introduced
(Bloomberg) -- Singapore home sales fell last month, as the government imposed measures to cool the property market.
Purchases of new private apartments declined to 650 units in December, Urban Redevelopment Authority figures showed Monday. That’s 60% lower than the 1,547 units sold in the previous month.
Sales may continue to slow in the first few months of 2022, according to Bloomberg Intelligence. But the cooling measures may end up being a short-term fix in a market with an insatiable appetite for homes, with analysts previously saying they expect transactions to rebound as early as the second half of the year.
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