New Private Property Sales In Singapore Climbed To 3 Year High In April 2012.

Online, July 18, 2012 (Newswire.com) - New private home sales in Singapore's robust property market soared to 3 year high levels. Home sales in April recorded the strongest numbers in nearly 3 years at 2,487 units sold. This is 4 per cent higher than March, and were the highest level ever reached since July 2009. These figures does not include Executive Condominiums (ECs), which is a hybrid public-private type of property in Singapore. Many experts were calling this an exceptional month.

One of the factor driving sales is the ongoing popularity of smaller sized apartment units. These so called shoe box apartments, remained popular among Singaporeans because of their affordability. These units are typically under 540 square feet in area and cost less than S$1 million. Many of the buyers are Housing Board (HDB) home owners who are upgrading or buying for investment. Another factor driving the momentum for home sales is the low mortgage rates.

Since the latest round of anti-speculation measures in December 2011, short term property speculators have almost vanished from the Singapore property market. Even foreigners who are subjected to the new rules are investing with a longer term perspective. The trend of buying Singapore properties are now largely driven by local Singaporeans, and most are investing for the long term.

Although the risk of further policy intervention by the Singapore government cannot be ruled out, any future policy measure will have to take into consideration the genuine demand for private homes form Singaporean, which is evident in the proportion of Singaporean buyers.

Local Singaporean or foreigners looking to invest in Singapore should check out http://www.BuyRentSingapore.Com or http://www.BuyRentSingaporeProperty.Com to get an overview of the latest property launches in Singapore and the promotional offers.