UPDATE 1-Singapore private home sales up for first time since July 2014

April 15, 2015 8:11 AM

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SINGAPORE, April 15 (Reuters) - New projects by developers drove up Singapore private homes sales by 28 percent in March, the first year-on-year increase since July 2014, but analysts said the rise did not suggest a sustained recovery was underway in the residential market.

Data compiled by the Urban Redevelopment Authority showed developers sold 613 units last month, compared with 480 units in March 2014. Sales were up 57 percent from the 390 units sold in February.

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