CDL warns of fire sales in Singapore high-end market

The Business Times – November 13, 2014

A view of Singapore's Skyline

Singapore’s Skyline [Photo: Wikimedia]

CITY Developments Ltd (CDL) executive chairman Kwek Leng Beng has warned that the current subdued state of the Singapore housing market particularly in the high-end segment, if it continues, could ignite fire sales.

“The domestic residential real estate market will need to battle headwinds as sentiments remain subdued with little signs of property curbs being tweaked or removed in the near-term. Transaction volumes and prices continue to face downward pressures as homebuyers maintain a wait-and-see approach,” he lamented.

Read the Full Article on: http://www.stproperty.sg/articles-property/singapore-property-news/cdl-warns-of-fire-sales-in-high-end-market/a/188366

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