Over 5,500 units were resold, higher than the average of 4,195.

This chart by OrangeTee & Tie shows that Q1 recorded the highest first-quarter resale volume in eight years at 5,531 units, well above the average of 4,195 units.

Demand had remained buoyed prior to the onset of the pandemic, indicating that the policy changes were effective in boosting the housing market last year, the report said.

Conjointly, with more flats reaching their five-year minimum occupation period in non-mature estates, the number of non-mature resale flat transactions rose higher at 26.7% YoY when compared to the 17.4% recorded for mature estates in Q1.

Previoulsy in March, it was also reported that HDB resale market was robust in February and prices inched up by 0.7 percent. With the increase in supply of BTO flats in the recent years, and more and more flats reaching their minimum occupation period, we had previously seen sales of newer HDB flats hit a 9-year high in 2019.

 

Singapore Business Review

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