Here's proof that residential market isn't badly hit by cooling rules yet

Price index shows growth was trimmed to 0.5%.

According to Colliers International, overall, market sentiments remained upbeat despite initial chills brought on by the successive rounds of market cooling measures. 

URA’s preliminary estimates showed that the all-residential property price index remained stubbornly on the up-trend although growth was shaved to 0.5% QoQ in 1Q 2013, down from the 1.8% QoQ increase in 4Q 2012.  

Here's more from Colliers International:

The continued climb in private home prices suggests that market fundamentals have not been overly compromised by the cooling measures such that they are still able to generate sufficient sales momentum to thrust prices forward.

Certainly, the various sweeteners dangled by developers to entice and encourage commitment by buyers also helped to prop up home prices.