26 Jul '17, 3am

Too soon to say property market has recovered

Aerial view of high-rise apartment buildings in Singapore. Despite the resurgence in private home sales, analysts believe it is still premature to say that the property market has turned around, reported the Straits Times . Hoi Hup Realty sold all its 531 units at Hundred Palms Residences EC within seven hours of the project’s launch on Saturday (22 July) – a feat last seen in 2014 with mixed development The Hillford in the Bukit Timah area, while GuocoLand moved 90 out of the 450 units at its luxury condo project Martin Modern in Martin Place over the weekend. “The good performances of recent launches indicate that there is pent-up demand for Singapore properties… (But) prices have stubbornly continued to decline. So, it might be too soon to say that the market has finally turned a corner,” said OrangeTee’s head of research and consultancy Wong Xian Yang. Private homes pr...

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

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