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.