Singapore’s December new private home sales hit record lows since 2009

There were only 135 transactions during the month.

According to OrangeTee, Singapore’s new private home sales shrank in December 2023, marking the lowest sales figures since 2009. The sales decline can be attributed to the year-end holidays and an absence of property launches during that period. 

Here’s more from OrangeTee:

According to the Urban Redevelopment Authority (URA), there were only 135 private new home sales, excluding executive condominiums (ECs), in December, an 82.8 per cent decrease compared to the 784 units sold in November. This is the lowest figure recorded since the Global Financial Crisis (or Lehman Brothers crisis), when 108 units were transacted in January 2009. 

On a year-on-year basis, December 2023 sales decreased by 20.6 per cent from 170 units recorded in December 2022. Sales, including ECs, declined by 81 per cent from 800 units in November 2023 to 152 units in December 2023.