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Singapore Home Sales Post Slowest Start to the Year Since 2009 | Bedford Corners NY Real Estate

Singapore’s home sales slid inJanuary, marking the slowest start to the year since 2009, asdevelopers sold fewer projects after property curbs crimpeddemand.

Home sales declined 72 percent to 565 units last monthcompared with 2,028 in the same period a year ago, according todata from the Urban Redevelopment Authority released today. Thenumber of units sold was the lowest in the month of Januarysince 2009, when 108 were sold in that month, the data showed.

“There were very few projects marketed last month asdevelopers with smaller projects stayed away from the market onweak buyer sentiment,” said Alan Cheong, a Singapore-baseddirector at Savills Plc. Home sales in the quarter could be aslow as 1,000 units, he said.

The government introduced loan measures in June as itwidened a campaign that started in 2009 to curb speculation inthe Southeast Asian city. Singapore’s property market isstabilizing and the country isn’t facing a credit bubble thatputs the island or its banking system at risk of a crisis, thecentral bank said on Jan. 15.

http://finance.yahoo.com/news/singapore-home-sales-post-slowest-054340020.html

Robert Paul

Robert is a realtor in Bedford NY. He has been successfully working with buyers and sellers for years. His local area of expertise includes Bedford, Pound Ridge, Armonk, Lewisboro, Chappaqua and Katonah. When you have a local real estate question please call 914-325-5758.