The housing market in the United States, which started the financial breakdown, finally appeared to turn the recession a month ago.
After noting low records in January, property sales increased unexpectedly and additional building permits were released as well, a sign of an upcoming increase in property deals and future construction.
Just recently, new property sales increased by 4.7 percent, the very first increase within seven months, whereas occupied home sales also increased by 5.1 percent, the biggest monthly increase since July of 2003.
However, the news was not at all emboldening. Still, home sales were lower from last year, while home prices also fell by almost 16 percent from the previous year, the second-biggest registered drop.
New property sales in Singapore also went up in the previous month hitting a significant 1,323 units, which was ten times more than the sales last January and the same to the number of new property sales in the previous year. However, property experts said that due to the openings of some famous projects, the boost might become a blip.