Freehold condo on sale at $922psf showing signs of property stress

While volume of transactions has declined over the past few months, prices have only dipped 1.2% in the first quarter of 2020. Somehow the numbers do not match the gravity of Covid-19. Why so?

The illiquidity of properties makes it slow to price in market factors. It normally requires six to nine months of lag period to gradually adjust towards where majority of buyers are willing to match sellers.

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