The latest Singapore property market data suggest government cooling measures are having a limited impact, says OCBC Investment Research, according to Dow Jones Newswires.

OCBC says new property launches remained firm in February and while number of new properties sold fell on-month after strong January, sales levels still solid and developers cleared more inventory than they launched during the month.

The brokerage says together with strong sales at new launches over the weekend, there is “sufficient evidence to suggest that the government measures introduced in February do not affect demand from genuine buyers.”

Adds developers still have a healthy pipeline of new residential launches in the coming months; “the firm demand reinforces our view that these new projects should achieve healthy take-up rates, which could potentially be a positive catalyst to share prices.”

FTSE ST Real Estate Holding and Development index +0.4%; FTSE ST All Share index +0.3%.