Condo units resold fell by 17.9% in April, prices up 1.2%
SINGAPORE – Fewer resale condominium units changed hands in April, while prices inched up by 1.2 per cent, according to flash data released by real estate portals 99.co and SRX on Tuesday..
ERA Realty Network key executive officer Eugene Lim noted that private home developers’ sales rose by 80.3 per cent to 887 units in April, setting the record for the highest sales volume in the past seven months. In comparison, a buyer of a resale unit would have to fork out the full sum of the property price and other related costs like stamp duties within weeks after the property is acquired, he said.
may also have prompted some owners of multiple properties to hold onto their investment units that they bought when rates were lower as they will have to pay a much higher ABSD if they decide to buy another residential property down the road, Ms Wong said. While the impact of the higher ABSD has yet to be felt, foreign demand for condo resales may dampen in the coming months, said 99.co chief data and analytics officer Luqman Hakim.Huttons Asia chief executive Mark Yip said the overall impact of the ABSD rate hikes is still manageable as locals and permanent residents make up around 95 per cent of resale condo buyers.
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