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New private home sales plunge 92% in Dec on back of fewer launches, year-end holidays

10:13 Min

Private home sales took a hit in December, plunging 92% from the previous month. Analysts said this was expected, given the lack of new supply and buyers travelling over the holidays. They expect private home prices to rise between 4% and 7% this year, due to fewer completed homes available and cheaper loan rates. This could feed developers' appetite for more land. But with the en bloc market still in stagnation, acquiring land may pose a challenge. Alexandra Anand reports, while Professor Sing Tien Foo from the NUS Business School shared more about the property market and cooling measures. 

Private home sales took a hit in December, plunging 92% from the previous month. Analysts said this was expected, given the lack of new supply and buyers travelling over the holidays. They expect private home prices to rise between 4% and 7% this year, due to fewer completed homes available and cheaper loan rates. This could feed developers' appetite for more land. But with the en bloc market still in stagnation, acquiring land may pose a challenge. Alexandra Anand reports, while Professor Sing Tien Foo from the NUS Business School shared more about the property market and cooling measures. 

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