Muted demand for private residential properties a concern for developers, says Redas president
Chia Ngiang Hong calls on developers to look beyond short-term volatility and to invest for long-term growth
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Claudia Chong
Singapore
PRICES of private residential properties may have gone up in the second quarter, but this does not reflect the true state of the market, said Chia Ngiang Hong, president of the Real Estate Developers Association Singapore (Redas) on Friday.
New home sales remain lacklustre on the back of existing cooling measures, abundant unsold stock and a worrying economy, he said in a speech at Redas' Mid-Autumn Festival celebration lunch.
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