15 Sep '16, 1am

Resale condo prices dip again

Resale prices of non-landed private homes dipped for the second month in August, after increasing from March to June - a sign that the resale property market is still finding its footing. Flash estimates from SRX Property yesterday showed that prices declined 0.8 per cent last month from July. This followed a revised 0.7 per cent drop in July over June. "The second consecutive monthly drop in prices raises doubts about the expected stabilisation of prices. Price gains made from March to June this year have been nearly erased over the last two months," said Mr Wong Xian Yang, head of research and consultancy at OrangeTee. Analysts cited various reasons for the price dip last month. This includes the uncertain global economic conditions, weak sentiment and the traditional Chinese Hungry Ghost Festival, which usually sees weaker activity in the property market. The overall re...

Full article: http://www.srx.com.sg/singapore-property-news/23612/resal...

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