25 Feb '13, 3pm

No takers for many high-end condos but supply not slowing any time soon. Does this mean a resulting price fall? Read:

No takers for many high-end condos but supply not slowing any time soon THE anaemic high-end property market is still languishing as foreign buyers flee the market in the wake of the string of cooling measures and the residual sting of the global financial crisis. New analysis by R'ST Research has identified almost 500 completed but unsold homes in upmarket districts 9, 10 and 11. And there are thousands more in the pipeline. R'ST Research director Ong Kah Seng said 9,295 non-landed high-end homes were under construction by the end of last year. Of these, about 44 per cent - or 4,077 units - remain unsold. A majority have sale licences but are not even launched as developers bide their time in a down market. The unsold completed homes include the 241-unit Hilltops in Cairnhill Circle, finished in mid-2011 with 195 units unsold, and Treasure on Balmoral with all of its 48 u...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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