The residential property market in Singapore is too hot and set for a correction in coming months, according to analysts. Industry experts say prices are already reaching a plateau and transaction volumes are slowing. Some districts have seen transactions drop by up to 88%.Figures from the Singapore Institute of Surveyors and Valuers (SISV) show that there were only 899 caveats lodged for condominiums in the first three weeks of May compared with 3,060 in April.
And although new condominium projects are still doing well, property agents said homes sales in the secondary or resale market have dropped by up to 20% recently. Full Story
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