31 Mar '14, 8am

#Property agents feeling the pinch as market cools #housing #Singapore

IT MIGHT be a property buyer's market now that prices in the fourth quarter last year have finally dipped after several years but it is about as grim as it gets for property agents. Buying interest is down to levels not seen since the months following the 2008 global market crash although prices have held up better this time around. Agents are more concerned with transaction volumes than sale prices as it is high turnover that generates commissions and in this regard, pickings are lean. Only 565 new private homes were sold in January while 724 units were shifted last month. There were also only 242 resales in the private home market last month, down 18.5 per cent from January, according to the Singapore Real Estate Exchange. These anaemic numbers are all unwelcome reminders of the financial meltdown. In the first two months of 2008, only 494 new units were sold although ac...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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