The resurgence was driven by multiple mass-market projects launched in the same month, as developers sought to capitalise on declining borrowing costs and pent-up demand. Buyers responded by lapping up suburban projects, including one in the east that sold more than 99% of its available 846 units.
The boom is renewing speculation for further housing curbs, as the government seeks to allay voter concerns about housing affordability ahead of elections due in less than a year. Singapore has introduced multiple rounds of measures in recent years to tame property prices, including a 2023 hike in stamp duty for most foreigners.
