SINGAPORE - Resales of private non-landed homes in Singapore rose 17 per cent in March over the previous month while prices barely moved, according to flash data from real estate portal SRX Property on Tuesday .
Giving possible reasons for March's higher sales, Orange Tee & Tie's head of research and consultancy Christine Sun some deals could have been closed before the month or were near completion before the escalation of the Covid-19 crisis in late March. Additionally, buyers who were in urgent need of a home could have rushed to seal a deal before stricter safe distancing measures kicked in.
He said:"Even after the lifting of the"circuit breaker" period, economic uncertainties could still keep a lid on property prices and transaction volume. This could also lead to a gradual accumulation of pent-up demand that could spill into the real estate market once the pandemic is contained."