Singapore home sales slump to 14-year low on supply crunch

SINGAPORE, Jan 16 (Bloomberg): Singapore home sales tumbled for a third straight month to the lowest in almost 14 years as a supply crunch kept buyers at bay.

Purchases of new privately owned apartments fell to 170 units in December, from 259 the previous month, Urban Redevelopment Authority figures showed Monday. That’s the lowest since January 2009, when 108 homes were sold after the global financial crisis affected buyer sentiment.