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Sales of Singapore's new private homes down 11.6 pct in April

Xinhua, May 16, 2016 Adjust font size:

Sales of Singapore's new private homes fell 11.6 percent in April compared with the previous month, according to data released by Urban Redevelopment Authority (URA) on Monday.

Excluding executive condominiums (ECs), property developers sold 745 units in April compared with 843 units sold in March, said URA. With ECs included, 1,291 units were sold last month, down from the 1,328 units sold in March.

On a year-on-year basis, the sales in April were 36.2 percent lower than the 1,167 new homes sold in the same month in 2015.

According to URA's data, 900 units were launched in April excluding ECs, while 682 units were launched in March. Including ECs, 2,160 units were launched in April, compared with 1,216 units in the previous month.

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