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Secondary property market sellers under pressure to lower asking prices, Research

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Secondary property market sellers are under great pressure to lower their asking prices due to slowing sales said a research report by Knight Frank.

The report which highlighted that secondary property market sellers are under great pressure referred to the URA Private Property Price Index which declined in Q1 2019, to arrive at their conclusion.

The report acknowledged that while not all the properties transacted Q1 2019 were recorded yet, it was unlikely the secondary property market sale transaction volume would exceed the 2,165 units transacted in Q4 2018. The announcement of the Cross-Island Line was likely to have supported the prices of non-landed properties in OCR and RCR in Q1.”

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