Prices of High-end Condo Are Falling

High-end apartments are selling at discounted price as stock market losses have forced some owners to dump their properties. The situation is worse for those under deferred payment scheme and are not eligible for loans as they have to make payment upon TOP.

Last yr, one owner sold his 29th flr unit at Twin Regency for $1.4m. But recently, he was selling his 27th flr unit at $1.05m even though it could fetch $1.3m. The Sail @Marina Bay, which were selling for $2k psf, are now selling at $1,450 psf. But buyers are asking for $1,100 psf.

* AsiaOne-Condo *