April 14, 2008
Data for new home sales will be out
WHAT IT IS
PROPERTY developers will release their figures on the numbers and prices of new private homes they sold last month.
The data, which will be available on the Urban Redevelopment Authority's (URA) website tomorrow, will show the total number of new homes launched and sold in the month.
It will also reveal the lowest, median and highest prices of the units sold in each project for March.
WHY IT MATTERS
Experts expect the March figures to affirm the trend of new home sales stalling in recent months as the housing market comes almost to a standstill.
February's figures showed that only 185 new homes were sold in that month - the lowest level since this monthly data was made public last June.
These weak sales were likely to have continued last month, which could take the total number of new-home sales in the first quarter to one of the lowest levels ever seen here, second only to the 2003 Sars period.
FIONA CHAN
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EastLiving - Singapore Property and Real Estate DB
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