Singapore developers only sold 536 home units in June, recording the lowest sale in four months as an interval in new launches affected sales. The numbers edged down from 1, 058 units sold in May, according to the Urban Redevelopment Authority on Friday. The June data for sales is the lowest since February when only 303 units were sold.
Prices in Singapore homes fell for the eleventh consecutive quarter, marking the longest losing streak on record. An index gauging private residential prices dropped 0.4% in the three months ended June 30 from the prior quarter. Home values have dropped 9.4% from the high in 2013.
The Singaporean government has insinuated its disinclination to expand property tightening measures it launched in the past 7 years to avoid overheating the market.
The material has been provided by InstaForex Company – www.instaforex.com