Developers in Singapore put on sale more new private homes from existing projects last month but sold fewer units due to the typical Chinese New Year lull and the absence of major new launches.

Sentiment was also dampened by the prospect of rising interest rates, a surge in Covid-19 cases following the festivities and heightened geopolitical tensions from the Russia-Ukraine war, analysts said.

Buyers took up 527 private residential units, down nearly 23 per cent from 680 in January and 18.3 per cent lower than 645 a year ago, according to Urban Redevelopment Authority (URA) data released on Tuesday (March 15).

Read more at: https://www.straitstimes.com/business/property/singapore-new-private-homes-sales-drop-to-lowest-since-may-2020-amid-cny-lull-dearth-of-launches

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