Glut of unsold condos to remain entrenched in 2020

There is a lot of unsold condos in Singapore way before Covid-19. To be exact, 31,948 units as of 30 Sept 2019, according to the Urban Redevelopment Authority. “Sales have averaged about 2,500 homes per quarter… and at that rate it will take almost four years to clear the backlog, “according to Ms Christine Li, head of research for Singapore and South-east Asia at Cushman & Wakefield. (Source: Bloomberg & Straits Times)

Singapore GDP Growth Rate
Singapore GDP growth quarter-over-quarter
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