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Sale volumes and interest have fizzled out just as quickly as the market surged last year. -- ST PHOTO: JOYCE FANG
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AFTER rocketing to dizzying heights last year, the private homes market has stalled because of the global credit crunch - an external factor that took the market by surprise.
The withdrawal of the deferred payment scheme last year has also dampened demand somewhat.
Sale volumes and interest have fizzled out just as quickly as the market surged last year.
While many players hang on to the notion that strong fundamentals - low interest rates, for instance - will support the market, sentiment has fast melted away.
Is the property market slowing to a crawl? We examine the mounting evidence.
Read the full story in tomorrow's edition of The Sunday Times.
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