In July, the government imposed higher stamp duties and tougher loan-to-value rules to choke off a sudden bout of exuberance. That had the desired effect with private residential home prices in the city-state posting their first decline in six quarters in the three months to Dec 31.
In other highlights from the report: The number of new apartments launched for sale in February was 596, compared with 498 in January and 101 in December, a month typically slower due to the holiday season Top selling projects included Stirling Residences and new luxury condo The Tre Ver. Developments that released significantly more units than were actually sold included Affinity at Serangoon and Artra in Alexandra.
Read also:
- Private property prices climb 2.7% in 2019
- Singapore home prices expected to grow 3% in 2020: Colliers
- Pace of private home launches to pick up in Sept but so will competition: UOB
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