Singapore Sept private home sales fall 48 pct y/y

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SINGAPORE (Oct 15): Sales of private homes by developers in Singapore fell 47.6 percent in September from a year earlier, government data showed on Wednesday.

Data compiled by the Urban Redevelopment Authority showed developers sold 648 units last month, compared with 1,237 units in September 2013.

The level of sales was up 48.2 percent from the 437 units sold in August.

Singapore has taken steps to cool the housing market, and property prices have fallen for the past four quarters.