Rental Prices down in Pasir Ris Condo's

[Barnsley]

I was reading the paper yesterday that there are some condo / Landed property developments that haven't sold a single unit ....

With a good few selling 20% and below..... How is that sustainable for the developer?

With more and more projects coming online .... isnt there gonna be a massive over supply unless the Govt scales back some of its property measures.

[sunbox]

Yes, things looks bad in real estate market.. Getting many deals without agents nowadays. 2 bedder HDB's are going for 2K around..

[ScoobyDoes]

CIMB locally just recognised the following a few hours ago.....

The biggest deterrent to buying a property now appeared to be the expectation of falling property prices. In terms of time frame, an overwhelming 78% only expected to buy a property after three years. We believe that buyers are holding back their purchases as they wait for property prices to fall.

That could leave us with a less-than-ideal situation of weak demand on top of rising supply with historically high physical completions over the next three years. However, developers are also aware of these phenomenon and are obviously worried.