Demand for new private homes down 80% in December

The "bad" news will come, one after another...

Demand for new private homes down 80% in December

SINGAPORE — Demand for new private homes plunged nearly 80 per cent in December compared to a month ago, as developers held off new property launches.

According to data from the Urban Redevelopment Authority (URA) today (Jan 15), just 259 units of new private homes were sold last month, down from 1,228 units transacted in November.

Among the units sold, 125 are located in the suburban areas, 90 units in the city fringe, and 44 units in the core central region.
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http://www.todayonline.com/singapore/dem...0-december

These monthly data quite volatile. May not mean much.

waiting to see if SG developers will cut prices like HK ones. Public Sg developers
will face QC extension charges if hold beyond 2 years from TOP.

I think it could be Dec period many families went for holiday rather than property hunting.

ya agree...dec e usual seasonally low vol month..not surprised to see a lower vol than nov

One should be comparing data quarter vs quarter to exclude seasonal factors. Vs Dec 2012 sales of 1410, Dec 2013 sales of 259 is still a whopping 81.6% plunge in sales.

(16-01-2014, 12:35 AM)Tiggerbee Wrote: One should be comparing data quarter vs quarter to exclude seasonal factors. Vs Dec 2012 sales of 1410, Dec 2013 sales of 259 is still a whopping 81.6% plunge in sales.

This is more appropriate to compare , unless last dec less people went for holiday.

yup, as tigger says: a wooping 1410 vs 259 -ve 81.6%
due to lesser new unit launched

Love Compassion

It's a cycle, up and down is rather normal, I don't see it as good or bad news, I see it as an incoming opportunity for those who are waiting to enter the market.

(16-01-2014, 09:43 AM)valuebuddies Wrote: It's a cycle, up and down is rather normal, I don't see it as good or bad news, I see it as an incoming opportunity for those who are waiting to enter the market.

Slow sales mean more sellers than buyers. more units are going to be ready to move in this year. couple this with slower growth of foreign PMET's

I see Fire sales starting in a few months .... it can be an interesting watch from there.

its funny how at the slightest hint of reversal in sentiment, there are already suggestions for govt to roll back the curbs. I don't think the govt should be seen as a backstop to property prices.

What do VB forumners think?