This signifies a 178 percent jump in the 303 units sold in the past month. Year-on-year, sales rose by 37.5 percent.
OrangeTee said when 1,655 units were transferred., this is the best tally of monthly developer sales since July a year ago
But analysts weren’t surprised from the surge in new home sales. DTZ said the period of March to May will find a heightened amount of action.
“Notwitstanding, consistent in what we see on the bottom, there tend to be more buyers returning to the marketplace. Most of the buyers look at comparatively lower quantums for developments at choice places,” noted the consultancy.
OrangeTee clarified that there is an accumulation of pent up demand from buyers who’ve adopted a waitandsee approach as a result of house cooling measures.
While these measures have sidelined many buyers because of the upsurge in tighter lending states and upfront prices, buyers continue to be prepared to invest when there’s perceived value in the marketplace, the company said.
Meanwhile, a couple of the top-performing new starts in March were The Wisteria and Cairnhill Nine.
Situated at Cairnhill Road, the 268- 177 units were sold by unit Cairnhill Nine by CapitaLand last month in a median cost of $2,441 psf.