Singapore, 09 Feb 2021 NEW condominium launches drove demand for units in the secondary market in January, with resale units being relatively more affordable, said analysts.
The comments came as condo resale prices rose for the sixth straight month in January 2021, flash figures from real estate portal SRX Property showed on Tuesday.
Overall prices were up 1.2 per cent from December 2020, and 2.2 per cent higher compared to January 2020, according to flash figures from the real estate portal.
Christine Sun, OrangeTee & Tie senior vice-president of research and analytics, said some buyers have turned to the resale market as prices of new homes have been climbing in recent months. "Many buyers are entering the resale market now as they may be expecting prices to rise further since many global economies, including Singapore, are likely to perform better this year," she said.