Wednesday, January 18, 2012

Burden of ABSD weighs down Dec home sales

Business Times: Tue, Jan 17
(SINGAPORE) The introduction of the additional buyer's stamp duty (ABSD) last month sent developers' private home sales in December to their lowest level in two years, latest official statistics showed, even though the figure for the full year was still a record.

The number of private homes, excluding executive condos (ECs), sold by developers plunged to 632 units in December, down nearly 63 per cent month-on-month and 52.6 per cent year-on-year.

Including ECs, a public-private housing hybrid, developers moved 670 units last month, reflecting declines of 63.9 per cent month-on-month and 60.6 per cent year-on-year...

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