Ivan Delgado
Independent Analyst
While Singapore’s property market has shown signs of cooling, with volume of new private home sales halving this year, it has defied expectations of a sharp correction.
Developers sold 7,137 private residential units in the first 11 months of 2014, with sales expected to total 7,500 by year-end – a 50 percent on-year drop, driven by weakening demand. Prices, in contrast, have proved relatively resilient as developers and private home sellers stand their ground.
Private home prices edged down just 0.7 percent on-quarter in the three months to September, marking the fourth straight quarter of falling prices. Declines, however, have been measured. For the first three quarters, prices decreased by 3 percent.
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