CONDOMINIUM resale transactions continued to fall for the third straight month in December 2022, as a seasonal lull and the year-end holidays resulted in fewer home viewings.
The number of condominium units resold dropped 14 per cent to 661 units, from 769 in November, according to flash figures from SRX and 99.co on Monday (Jan 30).
Cooling measures and a mismatch in price expectations between buyers and sellers could have also weighed on demand, said property analysts.
“Many buyers were expecting prices to moderate after the cooling measures, while sellers were holding firm to their asking prices,” said Christine Sun, senior vice-president of research and analytics at OrangeTee.
This resulted in fewer deals being sealed or deals taking longer to negotiate.