Brokers' take

Singapore property sector

DBS Group Research, March 16

February remained another quiet month with a 23 per cent year-on-year drop in new private residential units sold to 301 transactions. Given the lack of new property launches, developers focused on marketing unsold stock.

Sales volume in OCR (Outside Central Region) grew 5% y-o-y while central region fell 41% y-o-y largely due to RCR (Rest of Central Region). However, month-on-month, sales volume in OCR fell 13% (or 49 units) while volumes in the CCR (Core Central Region)…