Resales accounted for 35 per cent of all private homes sold in the second quarter. They numbered 933 units in the quarter when the"circuit breaker" took place, down sharply from 2,080 units in the first quarter.
Developers sold 1,713 private residential units in Q2, with 18 sub-sale units making up the balance. In comparison, developers sold 2,149 units in Q1. Some analysts expect transaction volumes and prices for private homes to come down this year owing to the ongoing pandemic and economic recession, although factors such as the low interest rate environment and the various packages rolled out by governments and central banks worldwide should counter some of the fallout.
Rentals of private residential properties decreased by 1.2 per cent in Q2 after increasing 1.1 per cent in the previous quarter. Rentals of landed properties fell 2.3 per cent, while rentals of non-landed properties declined by 1.1 per cent.
Source: News Formal (newsformal.com)
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