Private homes sold in Singapore up 15% on month

A total of 1,228 new private homes were sold in November in Singapore, up 15 percent compared with the figure of 1,070 units in October, according to data released by the city-state's Urban Redevelopment Authority (URA) on Monday. The figure was also higher than the 1,087 units recorded the same month last year, or up 13 percent on year. Among the units sold, 214 are located in the suburban areas, 352 units in the city fringe, while another half, 662 units, are in the core central region. If Executive Condominium, a public-private housing hybrid, are included, developers moved 1,714 units in November, up from October's 1,206. Industrial insiders said the transaction growth represents strong demands for residential properties, though the city-state has implemented several rounds of curbs to bring down the surging price of the real estate.