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.
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

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.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month
  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.