Singapore, 11 May 2021 SINGAPORE - The private resale housing market remained robust with the number of condominium units resold in April hitting an 11-year high as prices rose 1.5 per cent from the previous month.
Resale volume last month jumped by 7.9 per cent to an estimated 1,993 units from 1,847 units in March, representing the highest monthly volume since April 2010, according to flash data from real estate portal SRX released on Tuesday (May 11).
Volumes last month were estimated to be 528.7 per cent higher than in April last year, and 125.2 per cent more than the five-year average volumes for the month of April.
Year on year, prices rose 5.8 per cent over April 2020.
Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said the resale market was propped up by a large proportion of Housing Board (HDB) flat upgraders as 56.9 per cent of the last month's resale volume were in the suburbs.
Homes in the city fringes accounted for 23.7 per cent, while the remaining 19.5 per cent came from central Singapore.
"Many HDB flat owners have sold their flats in recent months and are searching for affordable, completed homes. Therefore, demand for resale homes may continue to increase in the coming months since prices of new homes are rising in many locations and the supply of mass-market condominiums remain limited," said Ms Sun.