Singapore, 10 Mar 2021 The strong momentum in the private condominium resale market continued in February, with growth in both prices and sales volume.
Resale prices rose 1 per cent in February from January, climbing for a seventh straight month, according to flash data from real estate portal SRX on Wednesday (March 10). Year on year, resale prices have increased by 4.4 per cent over February 2020.
Ms Christine Sun, senior vice-president of research and analytics at OrangeTee & Tie, said the higher sales came as a surprise as sales activities typically slow down during the Chinese New Year period.
"In contrast, sales of new private condominiums dipped last month," she added.
Ms Sun said more buyers are considering resale condominiums as prices of new homes have been holding firm despite the pandemic.