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Singapore private home sales up 61.7 pct in January

Xinhua, February 16, 2015 Adjust font size:

Singapore's private home sales surged dramatically by 61.7 percent on-month in January, as developers launched more units, according to statistics released by the Urban Redevelopment Authority on Monday.

The strong sales came as developers launched more units for sale, with 415 units launched last month, up from just 53 units launched in the previous month.

Private homes are those developed by private developers. About 80 percent of the resident households in Singapore live in spacious public housing units built and sold by the government. The private homes are typically more expensive than public housing units.

The property prices in Singapore have been stabilizing in recent months, after authorities put in place several rounds of cooling measures to curb speculation in the real estate market. Endi