Posted on by davidthesCondochairman · 1 Comment

Glut of unsold condos to remain entrenched in 2020

There is a lot of unsold condos in Singapore way before Covid-19. To be exact, 31,948 units as of 30 Sept 2019, according to the Urban Redevelopment Authority. “Sales have averaged about 2,500 homes per quarter… and at that rate it will take almost four years to clear the backlog, “according to Ms Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield. (Source: Bloomberg & Straits Times)

Singapore GDP Growth Rate
Singapore GDP growth quarter-over-quarter
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Posted on by davidthesCondochairman · 2 Comments

Condo launch prices to fall to $800psf

When Singapore injects a second round of fiscal spending only a month after the February budget, you know the economy is choked. The $48 billion additional support for businesses and individuals is a welcomed relief. But my guess is, this may not be sufficient for the next 4-6 months.

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