Friday, June 13, 2008

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Property Sales Decline Continues to 2008

Singapore private home sales down 40% in Q1
Sentiments in the Singapore residential property market continued to weaken in the first quarter on the back of a possible recession in the United States.
Private home sales dropped by 40 percent in the first quarter of this year compared with the last quarter of 2007, according to a report by DTZ Research.
Transactions of private condominium units, based on caveats lodged, fell 41 percent to 2,500, while sales of landed homes declined 38 percent to 566.
Analysts said the poor sales were due to a stand-off between buyers and sellers’ price expectations.
Channel NewsAsia - 12 Jun 2008


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