Singapore home sales tumbled

The number of sold new private homes in Singapore extended dip already for the second month, falling 19.4 per cent to 1,372 units in June, compared to a 31.6 per cent decline in the previous month. Still, according to Alan Cheong, a head of research department at Savills Singapore, the property market remains resilient, as the decline in sales won't have an effect on property prices. Also, Savills's analysts claim that property prices will remain stable, as long as 1500 property units are sold in each quarter.