Singapore Property Market Cools

Although December showed a 30pc decrease in sales month on month, property investors are confident that the property market in Singapore is still strong.

2010 saw a record number of private residential sales at just over the 16,000 mark – up from the previous peack of 14,800 in 2007. However December saw just 583 sales compared to 1,332 in November.

Analysts are quick to point out that December is traditionally a slow month in the Singapore property market and 2010 was no exception. Many people are on holiday during December and parents are looking at their children’s PSLE results so less properties are advertised.

January is predicted to be another slow month in the property market however many property investors are confident that the market will start to pick up again in the coming months.

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