Condo Resale Prices hit a two-year high, while prices of detached homes across the region continue to decline. The culprit? The very thing that causes resale prices to rise, lower mortgage rates. Tengah Plantation Close EC And with reduced competition in the market, sellers are able to hike prices on their condos without fear of competition.
This means that buyers can take advantage of huge pricing savings to purchase a new home at the top of the market while avoiding huge negative consequences. However, it is a tricky balance to strike. Buyers need to be aware that a two-year high in condo resale prices does not necessarily equate to a low real estate market. The housing industry is still recovering from the recent economic downturn and some areas are still seeing a slowdown. If you are interested in buying a new home and want to take advantage of the current …