4,607 units were sold during the first quarter of 2021, with demand likely spurred on due to COVID-19 construction delays.
Savills Singapore data showed that the number of private homes sold in the secondary market increased 6.5% quarter-on-quarter to 4,607 units during the first quarter of 2021, reported Singapore Business Review (SBR).
This comes as homebuyers in Singapore have turned to residential properties in “ready-to-move-in” condition, on the back of the uncertainties of construction delays.
Homebuyers may have also turned to the resale market due to the significant price gap between resale and new properties.
Resale transactions for private homes across all three market segments have increased during the period under review. The Core Central Region (CCR) registered the highest growth of 16%, with 865 units shifted.
Resale transactions in the Rest of the Central Region (RCR) came in second, rising 12.3% to 1,312 units. The Outside Central Region (OCR) posted a 0.7% increase, with 2,430 units transacted.
Cheryl Chiew, Digital Content Specialist at PropertyGuru, edited this story. To contact her about this story, email: firstname.lastname@example.org