Singapore home sales reach lowest in two decades in first half

High interest rates and government cooling measures have slowed Singapore’s once-booming real estate market. - ST

SINGAPORE: Singapore’s new-home sales barely rose in June, capping the weakest first half in at least two decades.

Developers sold 228 units last month, up from 221 in May, figures from the Urban Redevelopment Authority showed on Monday (July 15). That means fewer than 2,000 units were sold in the first six months of 2024, the least in available data going back to 2004, according to preliminary calculations by Bloomberg.