Thursday, 15 January 2009

Some Singapore Homes Valued at 54% Less Than Price, Today Says

Bank valuations for Singapore homes are as much as 54 percent lower than sellers’ asking prices, leading to fewer sales in the property market amid an economic crisis, Today reported.

1 comment:

Guanyu said...

Some Singapore Homes Valued at 54% Less Than Price, Today Says

By Andrea Tan

Jan. 15 (Bloomberg) -- Bank valuations for Singapore homes are as much as 54 percent lower than sellers’ asking prices, leading to fewer sales in the property market amid an economic crisis, Today reported.

A four-floor house was valued at S$3.3 million ($2.2 million) based on HSBC Holdings Plc’s online valuation service, compared with the asking price of S$7.2 million, the report said.

Prices of luxury homes in Singapore may fall as much as 60 percent from their peak two years ago, the newspaper reported, citing estimates by Citigroup Inc.