Private resale market perks up

SINGAPORE — The private property resale market showed signs of life last month with an 83 per cent increase in the number of non-landed units changing hands.

An estimated 451 resale transactions were registered in the month of March, which was the highest level since October last year, according to data released this morning (Wednesday) by the Singapore Real Estate Exchange (SRX). That was a sharp increase from the 247 resale units that were sold in February.

However, on an on-year basis, transactions in March fell 22.5 per cent, SRX said.

While transactions increased, prices of resale units remained flat, inching up by 0.2 per cent following a 3.1 per cent drop in February.