Analysts say private home sales have peaked

By Ng Baoying, Channel NewsAsia | Posted: 07 April 2008 2347 hrs


SINGAPORE: Sales of private properties have been sliding amid a standoff between buyers and sellers, say market watchers.

In February, sales for new launches were only one tenth of the record numbers seen in August last year.

Analysts also say that residential property prices may have finally peaked, although the fundamentals still support long-term growth.

URA's latest flash estimates showed private home prices rose 4.2 percent in the first quarter this year, much slower than the 6.8 percent pace in the last quarter of 2007.

Last year, property launches drew a crowd despite the extravagant price tags. But now, the