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Singapore sustains comeback in home sales with gains in December

Bloomberg Published on Mon, Jan 15, 2018 / 1:20 PM GMT+8

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(Jan 15): Singapore sustained a comeback in home sales in December, boosting an annual tally that was already the highest since 2013.

Developers sold 431 units, up from 367 a year earlier, according to Urban Redevelopment Authority data released Monday. For the year, home sales reached about 10,682 units.

Rising prices and climbing sales are reinforcing signs that the city-state’s residential market is emerging from a four-year slump even as officials watch cautiously after previous overheating. While a recovery in home prices is not a cause for concern, “exuberance” in the so-called en-bloc market for redevelopments may not be warranted, Ravi Menon, the managing director of the Monetary Authority of Singapore, said at a conference Monday.