Chart of the Day: Developers' sales soared 27% to 2,793 units in March

Overall 1Q13 sales hit 5,533 units.

According to Knight Frank, developers sold a total of 2,793 units in March 2013, mainly from major launches in the Outside Central Region such as D’Nest, Urban Vista, Trilinq, Bartley Ridge and Hillion Residences. 

This brings total new sales volume in 1Q 2013 to about 5,533 units or about 27 per cent higher than 4Q 2012.

Here's more from Knight Frank:

The year has started with a buoyant note with developers’ sales volume of 2,028 units in January 2013. Since the seventh round of cooling measures, record low sales volume of 712 units was registered in February 2013.

A surprisingly record high monthly sales volume was seen in March 2013, which overtook the previous monthly sales record last set in July 2009 (2,772 units).

Following the initial knee-jerk reaction from the cooling measures as shown by the low developers’ sales in February 2013, signs of market speculation of another round of property cooling measures may have prompted homebuyers to enter the private residential market particularly after the Chinese New Year period.

“While some prospective homebuyers remain sensitive to price levels with the higher ABSD and new tax policies; new launches with good location attributes and attractive price offers continue to draw genuine buyers especially in the mass market segment,” said Wendy Tang, Executive Director, Residential Services.