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Sales of Singapore's new private homes down 31.4 pct in November

Xinhua, December 15, 2016 Adjust font size:

Sales of Singapore's new private homes dropped 31.4 percent in November month-on-month, according to the data released by Urban Redevelopment Authority (URA) on Thursday.

Compared with the same period last year, URA said sales of private homes increased 13.3 percent in November.

Excluding executive condominiums (ECs), property developers sold 860 units in November, less than the 1,253 units sold in October. Including ECs, 1,110 new private homes were sold in November, down from October's 1,542 units.

According to URA's data, a total of 1,363 units, excluding ECs, were launched for sale in November, which was lower than October's 1,467 units.

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