SINGAPORE — New home sales in Singapore jumped to the highest in a year, official data showed on Thursday (June 15), despite a hike in taxes a month earlier to try to cool the market and discourage foreign buying.
There were 1,038 new homes sold in May, up 17 per cent from April, according to data from the Urban Redevelopment Authority . The figures do not include resale transactions.
That saw new home purchases by foreign buyers in May plunge 47.8 per cent from April, URA data showed. New homes sales in Singapore can be volatile, with figures fluctuating depending on the number of new launches. Singapore's property market is bucking international trends, which saw a drop in prices from Canada to China and New Zealand.
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