Sales of new private homes in Singapore fell for the second straight month in November to an 11-month low, official data showed Monday, as the government's latest efforts to cool the property market kicked in.
A total of 1,087 new private residential units were sold in November, down 44% from 1,948 units in October, according to data published on the Urban Redevelopment Authority's website. It was the lowest monthly tally since December 2011, when 632 apartments were sold.
The figure dropped nearly 26% in October from the previous month, after regulators on Oct. 6 tightened rules on new home loans in a bid to prevent a real-estate bubble. Home prices in the crowded city-state of 5.3 million people have consistently surged to fresh highs since the global financial crisis, despite repeated government intervention. Full story
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Singapore November Home Sales Decline to Lowest in 11 Months - Bloomberg
