SINGAPORE — While sales of new private homes rose in the second quarter from the same time last year, the private property resale market remained in the doldrums, real estate firm Huttons said in a report on Wednesday (July 24).
Between April and June, there were about 2,400 resale transactions, down 50 per cent from the same period a year ago, it said.
This was partly because there is a significant gap between what buyers are willing to pay in the resale market and what sellers are holding out for, it added.