Secondary home sales volume dropped but prices remained resilient. There are a group of buyers who are still waiting to view properties physically and once phase 2 resume, we will likely see resale segment gaining its momentum and prices will increase. As more resale owners sold their houses, there will be an influx of liquid funds in the market. Some of them will either re-invest or find replacement home. With that, we will see new launch condo selling well despite of the bleak economy. Buyers are more prudent and they make sure they buy within their means.
Source: The Straits Times
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