Residential

Private home sales fell by 44% in November

1,087 private homes excluding ECs were sold in November, a 44.2% fall from 1,948 in October, and a 36.1% from the same period in 2011. This is attributed to the lack of major launches (773 units, a 53% fall from October’s 1,633 units) and possibly the latest cooling measures. While there were no ECs launched in November, 179 ECs from earlier launches were sold. Including ECs, 1,266 homes were sold, compared to 2,624 in October, though demand remained high. 65% of the private homes sold excluding ECs were from the OCR. 20,879 private homes (excluding ECs) were sold by November 2012, and the year is expected to end with 21,000-24,000 homes sold. 3,672 EC units were sold in the same period, and the figure may exceed 4,000 by year end with 1,000-1,300 units sold in December. While prices are ...