SINGAPORE, Nov 15 ― Singapore home sales rose to the highest in more than a year in October as developers marketed more projects on pent-up demand from homebuyers.

Developers sold 1,252 units last month, compared with 509 units in September, according to data released today by the Urban Redevelopment Authority. That’s the biggest monthly sales tally since July 2015, the data showed.

The surge in sales came even as Singapore’s government has been steadfast in its commitment to cool the housing market, maintaining real estate curbs rolled out since 2009. The city-state’s home prices dropped for a 12th quarter in the three months ended September 30, and residential values are down 11 per cent from their peak three years ago. ― Bloomberg