Stand-off cuts private-home resale deals almost by half
The weakness afflicting the HDB resale market has spread to private homes. The latest estimates show that resales of condominiums and private apartments fell from 12,278 transactions in 2012 to just 6,550 last year. This year could be worse as buyers decline to pay over the odds, while sellers refuse to budge. But something has to give and market watchers expect prices to start dipping in the near future.