With the introduction of new cooling measures, resale condominium transactions fell in January. However, resale prices continued to increase. According to flash data from 99.co and SRX Property, this marks the 18th month of consecutive price increase.
Some of the cooling measures include increased ABSD, especially for foreigners buying any residential property.
Ms Christine Sun, senior vice-president of research and analytics at real estate firm OrangeTee & Tie, said: "Foreigners and investors seem to be taking a wait-and-see approach as they are more affected by the new cooling measures."