Vincent Ong 6598531741

Virtual tours and opportunities: The Singapore property market during COVID-19

  • Singapore is now in the 1st phase of the post-circuit breaker period. Developers’ show galleries remain closed, and property agents are still unable to conduct face-to-face meetings or viewings with prospective buyers.
  • Amid these challenging operating conditions, new private home sales fell 12% in the first quarter. In the same period, prices fell 1%.
  • Singapore has introduced various measures to maintain stability in the property market, including the total debt servicing ratio and the mortgage servicing ratio.
  • Today, [prices are] not dropping hugely. But developers are pricing sensitively with low profit margins and with some discounts.

– 12 Jun 2020

Read Full Article at https://www.channelnewsasia.com/news/business/virtual-tours-opportunities-singapore-property-market-covid19-12826268

Posted in Singapore Property News and tagged , , , , .