Singapore Home Sales Jump to 4-Month High

  • Developers sold 716 units, up from revised 384 in February
  • Property market shows signs of recovery after 4-year slump
Hari Krishnan, CEO at PropertyGuru Group, discusses the property markets in Asia.

Singapore home sales jumped to the highest in four months in March amid signs the property market is recovering.

Developers sold 716 units, the Urban Redevelopment Authority said Monday. That’s more than a revised 384 units in February and the highest since November. Still, sales are running at a slower pace than early last year.

The city-state’s housing market is showing signs of recovering from a four-year slump even as officials watch cautiously after previous bouts of overheating. Property prices climbed 3.1 percent in the first quarter, the biggest gain in almost eight years.

“This is still a low number,” said Christine Li, a director of research at Cushman & Wakefield Inc. “Many developers are not pushing as many apartments in the market as they could because they are hoping for higher prices,” she said, forecasting bigger gains in coming months.

    Quotes from this Article
    Before it's here, it's on the Bloomberg Terminal.