Singapore home sales slumped to the lowest in 21 months as the residential market slows on cooling measures and higher property taxes.
Purchases of new private apartments fell to 527 units in February, Urban Redevelopment Authority figures showed Tuesday. That is 22.5% lower than the 680 units sold in the previous month and the lowest since May 2020, when 487 apartments were sold.
“Sales take up was notably slower last month as buyers were more cautious and stayed on the sidelines,” said Christine Sun, senior vice president of research and analytics at OrangeTee & Tie. “Real estate is a highly sentiment-driven market.”
The lacklustre sales underscore weaker buyer confidence after the Singapore…
