Almost close to a 1,300 units of resale condos were transacted in September and this figures surpassed the one in the same month last year. Hungry ghost festival has not dampened the purchasers from making major decision although it is a taboo to buy house during this period. As construction work is delayed due to covid-19, more buyers switched their focus to look for resale properties instead to save waiting time and they can get a bigger livable space as compared to new launch which they have to wait 2-3 more years which is also opportunity cost if they need to rent elsewhere. As more HDBs in the west area reaching their 5-year’s MOP period, we will likely to see more resale condos in the west to transact and buyers with strong total household income will consider to get a property for own stay and the other one for investment. Clavon condo at Clementi is anticipated to draw huge interest when showflat is ready for viewing.
Source: The Straits Time
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