Property sales in Singapore jumped in years

Property sales in Singapore jumped to the number of units sold much more than analysts predicted. The buyers are also not worried about the increase in property prices.

Although February is a short month, but the real estate market in this country recorded 1196 new private homes sold, more than the number sold in January 1480 the unit, and far more than the December 2009 sale of the 481 units recorded.

Overall, sales in January and February 2676 recorded the number of units. This amount is higher than the number of units sold in the first three months of 2009, which is 2596 units. "With sales momentum in January and February, and March, I believe new home sales in the first quarter of 2010 reached 2,000 units," said Executive Director of CBRE Research, Hiaw Li Ho.

These figures indicate that the rise of property in this country sooner than some people think. CEO Mohamed Ismail said ProNex of these numbers are impressive considering the Lunar New Year holiday sales are usually more quiet. February is also the shortest month and cooling measures take effect the market.

"This strong performance is evidence of the strength of demand for home buyers who will occupy it and the investors," said Director of Research and Advisory Colliers International, Tay Huey Ying.

"Buyers seem to see the potential future following the steps taken by the government so that they are confident and sure will benefit from price appreciation," he said.

The developer launched the 1161 housing units in February, while 1426 units in January 2010, according to final figures issued by the Urban Redevelopment Authority (URA) of Singapore. The majority of sales last month, is located in the main area or the suburbs.

If property prices continue to better the cooling steps needed, said Chua Yang Liang, Head of Research Jones Lang LaSalle Southeast Asia. Capital gains tax seems one of the most possible option.

Policy to the vendor stamp duty imposed last month. This step can reduce new sales by others of about 5 percent to 10 percent, and its impact tends to speculators in resale markets, "said Chua