SINGAPORE - The number of private non-landed homes resold hit a two-year high last month while prices firmed slightly in what observers see as another sign of the Singapore's property market's growing recovery from the effects of the Covid-19 pandemic.
Ms Christine Sun, head of research and consultancy at OrangeTee & Tie, said August's stellar resales of private homes seem to be in tandem with the positive sales trends observed in other market segments. Property sales had plunged during the circuit breaker period when no housing viewings were allowed and all show flats were closed. Private resales began to rebound in July with pent-up demand and HDB upgraders nearly doubling transactions to 978 units resold from 496 units in June.
Despite the rise in demand, resale condo prices in August remained largely stable, inching up by 0.4 per cent from July, and by the same amount over the same month last year.
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