SINGAPORE: Sales of new private homes plunged 58 per cent compared to the month before as"circuit breaker" restrictions continue to bite.
In total, developers released 640 private units in April, a 10.7 per cent jump from the month before. There were no EC projects launched in April. “These lacklustre sales were well within expectations as April's meltdown abruptly suspended all property activities from April - including showflats operations which are ‘core essential activities’ for property development, traditionally significantly underpinning sales transactions,” Mr Ong said.
Mr Ong said the announcement of the circuit breaker’s extension until Jun 1 “dashed hopes of quick recovery and further dampened economic and property sentiments”.
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