Resales transaction volume decreased in the month of May but the prices remained constant. There are a handful of buyers who are still waiting to be able to view properties physically. This directly caused a pent up demand and resale properties’ prices will likely rebound if the supply is less than demand. When more properties are sold, more cash proceeds will be recycled into the market and prices for both resale and new home will increase as seller need to buy or re-invest their monies. Lentor Modern is likely to draw huge interest since this is the first mixed development in Yio Chu Kang area.
Source: The Straits Times
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