Here's what's buoying developer sales in August

Resale transactions spiked 30%.

The property sector has been on the downlow in August, with the lack of launches pushing down developer sales. But thanks to resale transactions, the number is prevented from sinking lower.

According to a report by DBS Research, total property transactions in August were one ofthe best since 2013, with 1,621 transactions recorded. This is led by a 30% YoY rise in resale transactions to 787 units.

"This mainly came from selected major re-launches in the Central region – namely The Interlace (34 units), D’Leedon (41 units) and OUE Twin Peaks (31 units)," DBS noted.

To recall, developer sales in August dip 17% lower YoY to 805 units. Excluding ECs, only 473 private residential units were transacted, a 8% drop compared to a year ago.