New home sales plunged 43% in February

Only 447 new flats were sold.

The number of private residential units sold by developers plunged 43% year-on-year in February, data from the Urban Redevelopment Authority (URA) showed today.

A total of 447 new units including executive condominiums were sold last month, a far cry from the 787 new flats sold in February 2014.

Excluding ECs, only 382 units were sold in February, compared to 739 new flats sold in the same month last year. However, this represents a 2.1% month-on-month increase compared to the 374 flats sold in January.

On a month-on-month basis, new home sales declined by 19.9% from 558 condos sold in January.

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