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Half of developers likely to cut prices of Singapore new launches

54% in survey see 2-5% new sale price fall in 2020, 46% expect 5-8% slide in resale prices in 2020

Published Mon, May 4, 2020 · 09:50 PM

Singapore

THE sentiment of local property developers has dived, with half of them likely to lower the selling prices of their new launches in the next six months.

This is according to the latest Real Estate Sentiment Index (Resi), published by the National University of Singapore Real Estate (NUS+RE). The index hit a record low in the first quarter of 2020 amid the Covid-19 pandemic.