Strong new home sales in Feb despite CNY, cooling measures

Last month's sales serve to underline that the property resurgence is more resilient than some had thought. -ST

Property buyers showed few signs of easing off last month and snapped up 1,196 new private homes - more than industry experts had expected for a month many thought would be quieter.
The robust figures follow from a bumper January, when 1,480 private units were sold - a number that trumped the miserly 481 shifted in December, and helped prompt government measures to pre-empt a property bubble.

Sales in January and February hit 2,676 units, already well up on the 2,596 sold in the first three months of last year, with March numbers yet to come.

Joyce Teo
Tue, Mar 16, 2010
The Straits Times