Residential property sales in April reach decade-high at 8,500 units

The increase was due to the withdrawal of cooling measures.

Residential transactions surged to over 8,500 units, the highest monthly figure in nearly a decade following the complete withdrawal of cooling measures in February, Cushman & Wakefield reported.

Developers are also actively launching new projects after the removal of cooling measures, with some offering competitive pricing or discounts to attract buyers. 

As a result, first-home sales have garnered attention in the primary market, comprising 35% of overall transactions from January to May.

On the flip side, transaction volume declined to around 5,550 units in May amidst delayed interest rate cuts and uncertain market conditions.

For Q2, Cushman & Wakefield expects the total transactions to reach 19,000 units, increasing 93% quarter-on-quarter (QoQ) and 56% year-on-year (YoY).