Prices of non-landed private residential properties in the Core Central Region fell by 4.9 per cent, compared to a 2.7 per cent increase in the previous quarter.
The resilience in the property market is"encouraging" given uncertainties in the economic and employment outlook amid the COVID-19 situation, said Ms Christine Sun, head of research and consultancy at OrangeTee & Tie. Measures such as allowing borrowers to defer loan repayments and temporary relief measures likely prevented home owners and developers from slashing prices too drastically to move sales, she said.
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