23 Apr '15, 3am

#singapore #property Home sellers hold out for better prices: As property prices contin...

Comment E-mail to friend Bookmark & Share As property prices continue to slide, more home sellers are choosing to rent out their units first in the hope of fetching a better selling price once the residential market recovers, media reports said. Private home prices have been decreasing since Q3 2013, as loan curbs weigh on demand and cooling measures bite. The resale market has also witnessed a drop in transactions. Data from the Urban Redevelopment Authority (URA) showed that the number of private homes sold in the secondary market fell to 4,860 units last year from 6,671 in 2013. The drop in resale volume indicates that potential sellers are holding back and renting out their units instead, said property watchers. “Many sellers have the intention to sell but they couldn’t get the prices they want, so they decided to rent out first so they could buy time and sell the prop...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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