Condominium resales fall 8.5% in Q3 2019

The Rest of Central Region (RCR) recorded the biggest resale drop of 10.7%, while the Outer Central Region (OCR) and the Core Central Region (CCR) both recorded 7.6% declines.

Island-wide condominium resale volumes in Q3 2019 dropped 8.5% quarter-on-quarter (QoQ) to 1,855 units, compared to 22% QoQ in Q2 2019, reported Singapore Business Review citing Edmund Tie.

Ong Choon Fah, Edmund Tie CEO, believes the drop may have been caused by the increase in launches offering new units, causing buyers to turn to the new sale market. 

Resales for the three market segments decreased, with the Rest of Central Region (RCR) suffering the biggest drop of 10.7%. The Outer Central Region (OCR) and the Core Central Region (CCR) both recorded 7.6% declines.

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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg

This post was originally posted on Property Guru Property Market News Section