Developers moved 2,149 new homes, excluding executive condominiums, in the first three months of this year, down 12 per cent quarter on quarter, but up 16.9 per cent from March last year.

But observers say extended circuit breaker period will put more downward pressure on the market

Private home prices fell less than initially estimated in the first quarter, but the extended circuit breaker period will put more downward pressure on the market, said observers.

They point to the increased job losses and other economic uncertainties amid the lockdown.

Mr Desmond Sim, CBRE’s head of research for South-east Asia, predicts prices will correct by 5 per cent to 8 per cent this year.

Read more at: https://www.straitstimes.com/business/property/q1-private-home-prices-fall-1-less-than-initially-estimated

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