SINGAPORE--Sales of new private homes in Singapore dropped in May to its lowest level this year as demand in the city- state's red-hot property market eased from a strong run amid concerns over slowing global growth and potential government intervention.
A total of 1,702 new private residential units were sold in May, down from a revised 2,496 units in April, according to data published Friday on the Urban Redevelopment Authority's website. Before May, new private-home transactions had topped 2,300 for three consecutive months, with April's figure marking a 33-month high. Full story
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