Singapore Home Sales Fall to Lowest Since May 2020 on Costs
- Purchases fell to 488 new units in June, versus 1,355 in May
- Central banks are hiking up interest rate to curb inflation
Apartment blocks in Singapore.
Photographer: Lauryn Ishak/BloombergThis article is for subscribers only.
Singapore home sales took a massive dive last month to the lowest in more than two years, as concerns over interest rate hikes kept potential buyers at bay.
Purchases of new private apartments fell to 488 in June, Urban Redevelopment Authority figures showed Friday. That’s 64% lower than the 1,355 units sold in May. June’s sales were the lowest since May 2020, when 487 new homes were sold.