Home sales soar 82% in March

Developers sold 1,780 private residential units.

Singapore developers saw a healthy take-up for the month of March, ending the month with 2,358 units sold.

Citing the latest figures from Urban Redevelopment Authority, ERA Realty Network revealed that out of the units sold, 1,780 were private residential units whilst 578 were ECs.

"This was an 82% increase from the 977 private residential units and 76% increase from the 329 ECs sold in February," ERA said.

The real estate network said these robust numbers are indicative of the latent buying demand that is still prevalent in the market today.

The strong sales were given a boost by the well-received launches of Grandeur Park Residences, Park Place Residences at PLQ, and iNz Residence.

"Also, the slight tweak to the cooling measures might have injected a shot of optimism amongst buyers. Most buyers of new projects are able to accept the holding period of 3 years as that is typically the time taken to construct the project. Upon the respective projects attaining the temporary occupational permit, buyers may have the option of reselling the units without having to incur seller’s stamp duty," explained ERA.