Higher share of loss-making deals in resale homes in June after heightened Covid-19 curbs disrupt market
Singapore
THE proportion of loss-making residential transactions in the secondary market declined month-on-month in April and May before rising again in June as a spike in the number of Covid-19 cases prompted the introduction of heightened restrictions.
And with tighter curbs disrupting property viewings, sellers could turn more accommodating on pricing to close the deal quicker, suggested Edmund Tie & Company's head of research & consulting, Lam Chern Woon. While the measures - which included restricting home viewings to two people - kicked in from May 16, there was a lag with the impact only showing up in caveats lodged in the month of June, he noted.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Airbnb promises to combat sex work in rentals during Paris Olympics
Hong Kong property deals hit three-year high in April
More homes planned in Media Circle to support housing demand
Qatari Sheikh sells London mansion to fellow royal for £39 million
Toronto home sales fall for third month in April; prices rise
Far East Shopping Centre owners in private talks after close of S$928 million en bloc tender