SINGAPORE, March 15 (Xinhua) -- A total of 708 units of new private homes were sold in Singapore in February, down by almost 65 percent from January's 2,016 units, according official figures released Friday.
Analysts said the sharp fall may be attributable to the Lunar New Year holidays, fewer launches and the government's latest round of cooling measures.
However, it may be still too early to gauge the effectiveness of the latest round of cooling measures.
With executive condominiums included, 917 units of new homes changed hands in February, compared to 2,272 units in January.
Singapore government has announced seven rounds of cooling measures over the past several years since the economy rebounded from the downturn in the aftermath of the 2008 global financial crisis. The latest round, announced in early January after housing prices rose to record highs in 2012, included extra stamp duties and tighter rules for housing loans aimed to rein in speculation.
About 80 percent of the resident population in Singapore live in public housing flats built and sold by the Housing and Development Board, while the market for private homes are usually considered high-end.
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