Chart of the Day: Condo resales down 8.5% to 1,855 units in Q3

This may be due to an increase in new condo launches.

This chart from EDMUND TIE shows that island-wide condo resale volumes fell 8.5% QoQ to 1,855 units in Q3, reversing the 22% QoQ expansion in Q2.

Ong Choon Fah, CEO at EDMUND TIE, said that the decline may be due to the increase in new launches, resulting in buyers turning to the new sale market instead with more options of new units being available.

Resales across all three market segments fell, with the Rest of Central Region (RCR) registering the largest fall decline of 10.7%. The Core Central Region (CCR) and the Outer Central Region (OCR) each recorded 7.6% QoQ declines, respectively.

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