Private condo resales drop to 'crisis' levels

[princess_morbucks]

Lynette Khoo
The Business Times
Wednesday, Oct 08, 2014

SINGAPORE - In yet another sign of a stalemate between buyers and sellers, resale volumes for private condominiums have fallen to levels last seen during the global financial crisis, with the bloodbath of declines seen splattered islandwide.

While sellers with strong holding power seemed unwilling to let go of their units at much lower prices, District 18 in the east and District 27 in the north appear to have held up well in resale volumes for the second quarter.

District 18, which comprises Tampines and Pasir Ris, saw resale volumes inch up 5.6 per cent in the second quarter this year to 57 transactions compared with the period a year ago, before the total debt servicing ratio (TDSR) kicked in on June 29 last year.

Resale volumes for private condos in District 27, which covers Yishun and Sembawang, were flat at 18 transactions in the second quarter, compared with the same quarter last year.

Their resilience came against a plunge in resale volumes islandwide.

- See more at: http://business.asiaone.com/property....pUsdhyAB.dpuf

[Eh]

Don't like the way newspaper report. Not everything is in crisis level based on figures alone.