A total of 843 private housing units has been sold by Singapore property developers in March 2016, excluding the executive condominiums, according to the data reported by the Urban Redevelopment Authority (URA).
The new data released results a 178% increase from the previous month with 303 units sold, while the yearly sales also climbed by 37.5 percent.
According to OrangeTee, the new data is the highest tally since July 2015 in monthly developer sales.
However property analysts were not surprised in the sales growth of new home. The period starts from March till May tends to see an improvement of activity level, DTZ reported to media.
There has been a pent-up demand accumulated from property buyers who have adapt a wait-and-see attitude considering the property cooling measures, OrangeTee explained.
The firm also added that good quality development coupled with reasonable pricing is the key to work up sleeping demand involved in the private residential sector.
Furthermore, two of the top performing new launches for the month of March were The Wisteria and Cairnhill Nine.
Situated at Cairnhill Road, the 268 total unit of CapitaLand’s Cairnhill 9 Nine sold 177 units last March with $2,441 psf median price. Over in Yishun, the 99 years leasehold The Wisteria at Yishun Ave 4 sold 125 out of its 216 units snapped up with $1,112 psf median price.
