The resale condominium market benefited from the spillover demand from the new sale market. Transactions of new homes in the CCR in March was at its highest in eight years. Midtown Modern was launched; RV Altitude and Eden were sold out. Buyers who are not able to secure their ideal home turned to the resale market, pushing up volume and prices in the CCR.
Some HDB owners are riding on the buoyancy in the HDB resale market to upgrade to a private home. Volume in the OCR is at its highest in a year.
The volume of non-caveated transactions has been on the rise for the past three months. Typically, buyers do not lodge a caveat if they paid for the property fully in cash. This is another indication of buyers flush with liquidity chasing after stable assets.