Despite the slow developer sales posted in August, recorded resale transactions increased by 30 per cent year-on-year, its best result since 2013, reported Singapore Business Review, citing a DBS research report.
According to a report by DBS Research, total property transactions recorded in the last months has been one of the most promising with 1,621 transactions. This is led by 30% YoY rise in resale transactions to 787 units.
“This mainly came from selected major re-launches in the Central region – namely The Interlace (34 units), D’Leedon (41 units) and OUE Twin Peaks (31 units),” the report noted.
This came as primary sales see disappointing numbers, with only 805 units sold in the said month, 17% lower than the year prior.
Points to ponder: Is this a sign that the private residential resale market has bottomed or the spike is just temporary?