There are more signs that Singapore's property market is slowing down.
Latest numbers from the Urban Redevelopment Authority (URA) show that developers launched just 410 new housing units in January – that is 16 percent less than the number of units launched in December, which was also a quieter month.
Industry watchers said market sentiments have cooled due to the sub-prime crisis and global economic slowdown. In fact, private home sales in Singapore were at a standstill in January, with developers selling 328 private homes last month.
A unit at Scotts Square at Scotts Road commanded the highest price of S$3,671 per square foot.
At the lowest end, 12 units at La Casa in Woodlands Drive fetched between S$537 and S$601 per square foot.
While last year's property boom is not expected to be repeated, analysts do expect the market to pick up again in the second quarter. - CNA/so
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