Reduce rental costs to help local economy

THE Hillford, a 281-unit retirement resort on Jalan Jurong Kechil, sold out within five hours at last Friday's launch. But make no mistake about it: if Sunday's sale of the Panorama condominium in Ang Mo Kio is anything to go by, the residential property market is weakening, in a welcome correction two years before interest rates are slated to go up. Just 60 of the 120 units released for sale at the 698-unit suburban condo project were booked. This translates to first-day sales of 8.6 per cent, which...

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