SINGAPORE, Aug. 23 -- The private residential market in Singapore, soaring in tandem with the galloping economy, has cooled in the second quarter due to global uncertainty, local radio 938 Live reported on Monday.% H$ S# W8 Y! h
According to property consultant DTZ, market activity has slowed in May and June due to a combination of European debt woes, local stock market jitters and increased land supply.
0 o2 D, ^. z9 O. V New private home sales fell by 8 percent to 4,033 units in the second quarter, as developers slowed the pace of launches because of the subdued sentiment.
. P( n) Y, ?$ F1 ?7 `0 q However, luxury homes transactions continued to rise in the quarter as the share of purchases for units that are at least 3 million Singapore dollars (2.21 million U.S. dollars) edged up to 10 percent of all transactions. This is a shade higher than the previous quarter's proportion of 9 percent.
) a$ H$ |" {9 H! u( [ Most of the transactions amounting to 3 million Singapore dollars and above were homes in the prime districts.! B1 M8 J+ T1 [" l5 s
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