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Singapore Home Sales Inch Higher in Sign of Residential Recovery
Sales of private homes in Singapore appreciated in February indicating a sign of the residential property market recovery from the cooling measures imposed last year.
In a statement by URA, developers sold 455 units, performing 4.4% better than January’s 436 units.
When the Singapore government imposed the cooling measures in the form of higher stamp duties and more stringent loan-to-value, the residential market went into a decline. Private residential home prices came down for the first time in six quarters.
Top selling projects during the February such as Stirling Residences, The Tre Ver, Affinity at Serangoon were contributing to the sales volume jump.
Source – Bloomberg
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