The jump adds to signs that Singapore’s residential market is heating up as the economy begins to recover from the pandemic-induced recession. Authorities have warned that low-interest rates can distort asset prices and the property market shouldn’t run ahead of economic fundamentals.
Singapore home sales rebounded in March, fueling concerns that authorities may impose new measures to cool the market.
Purchases of new private apartments doubled to 1,296 last month from 645 units in February, Urban Redevelopment Authority data showed on Thursday.
