Price gap widens between new and resale condos

Overall condo sales are still resilient because the price-to-income ratio has come down to 4.6 in 2019 from 5.1 in 2016. PHOTO: ST FILE
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SINGAPORE - While new private home sales appear to be on the rebound, underpinned by higher prices of new launches and resilient demand amid an uncertain economic climate, the outlook may not be as good for resale condos.

According to a report by OrangeTee & Tie, resale transactions have slowed and some owners in the suburbs and city fringe areas may have dropped their asking prices in the face of competition from new launches.

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