Singapore registers strong home sales in 2009

09:52, December 15, 2009      

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New home units sold in Singapore are expected to reach 14,500 in the whole year of 2009, second only to the record of 14,811 units in 2007, local media reported on Monday.

However, according to property consultancy CB Richard Ellis (CBRE), the total selling price paid for new homes in 2009 was 58 percent of that in 2007, local TV broadcaster Channel NewsAsia reported.

The CBRE said this was likely due to the dominance of mass market and mid-tier homes, and less high-end homes were sold in 2009.

The strong take-up in the mid-tier segment filtered upwards to the prime segment in the second half of 2009. As a result, the number of units sold from the mass market and mid-tier segments made up about 60 percent of the total sales quantum in 2009.

Source: Xinhua
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