The rising demand for resale homes is partly driven by positive sentiment and the limited major new launches in the primary market in recent months. The large number of collective sales has also fuelled buying demand in the resale market.
The positive market sentiments in recent months are expected to keep home-buying demand healthy. This would in turn boost the buying activity in the private residential resale market.
However, there could be a lag before those who have sold their homes en bloc can buy again, as they would have to wait a few months for the sales proceeds to come in.
Nonetheless, these buyers would ultimately prefer completed properties so that they can move in almost immediately.
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