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Home sales surged to the highest monthly total in March

Home sales surged to the highest monthly total in March

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Singapore home sales surged to the highest monthly total for nearly four years in March, a month in which the government rolled back some property curbs following a three-year slide in prices.

Developers sold 1,780 units in March, the most in a month since June 2013 and more than double the 843 sold in the same period last year, according to data released Monday by the Urban Redevelopment Authority. A total of 1,527 units were offered, almost three times the 550 in February. Upcoming executive condo launches include Hundred Palms Residences EC, Yio Chu Kang EC, Inz Residence EC, Anchorvale Lane EC,  while existing ones include The Terrace EC, Brownstone EC, The Vales EC, Parc Life  EC , Sol Acres EC EC, The Visionaire, Bellewoods EC, Signature EC  at Yishun, The Criterion EC  and Northwave EC. Hundred Palms Residences details and Hundred Palms EC show flat will be available shortly.

The largest sales came from Grandeur Park Residences in the city’s east, which sold 484 units of the 720 put up for sale, and Park Place Residences at PLQ, which sold all 217 units it placed on the market last month.

The government moved in March to relax a raft of measures to cool home prices -- steps it began implementing in 2009, with some of the strictest restrictions being imposed in 2013. Home prices fell 3 percent last year and have dropped for 14 straight quarters, the longest slide since the data were first published in 1975.

An index tracking private residential prices fell 0.5 percent in the three months ended March from the previous quarter, according to preliminary data from the authority. Home values have dropped 11.7 percent from their 2013 peak.

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