Resales transaction volume decreased in the month of May but the prices remained constant. There are a handful of buyers who are still waiting to be able to view properties physically. This directly caused a pent up demand and resale properties’ prices will likely rebound if the supply is less than demand. When more properties are sold, more cash proceeds will be recycled into the market and prices for both resale and new home will increase as seller need to buy or re-invest their monies. Clavon is likely to draw huge interest since there is no launch in district 05 later part of 2020.
Source: The Straits Times
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