The robust primary sales reported in March poses a double-edged sword for listed developers, say DBS Group Research analysts Derek Tan and Rachel Tan.

The pair’s note comes after the property market saw a record quarter in the 1Q2021 with sales of around 3,400 units.

New private home sales in March surged to 1,373 including executive condominiums (ECs), which was more than double that of February’s figures.

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