SINGAPORE, March 17 -- Private home sales in Singapore reached a three-month high in February, driven by strong local demand for suburban residences and speculative purchases.

According to data from the Urban Redevelopment Authority released today, Developers sold 1,575 units last month, The Edge reported.

The city-state's property market is experiencing renewed momentum as falling interest rates spur activity, with some buyers aiming to profit from reselling condominiums.

This uptick has led analysts to speculate that the government may introduce additional cooling measures to rein in demand.

Suburban projects have been particularly popular, with two developments near public housing estates emerging as the top performers.

Parktown R...