Singapore home sales fall to 15-year low as market cools

Singapore has so far avoided the worst of a global housing downturn, but the sector is increasingly being dragged down by real estate purchasing curbs and a slowing economy. - Photo: Lianhe Zaobao via The Straits Times/ANN

SINGAPORE (Bloomberg): Singapore new private home sales fell in 2023 to the lowest in 15 years, as housing curbs and weakening economic conditions began to weigh on the market.

Just 6,671 units were sold by developers last year, figures released by the Urban Redevelopment Authority showed Monday. December sales dropped to 135, less than a fifth of what was sold a month earlier.