Values tumble for high-end condos in S’pore

Property veteran Mak noted that out of the 10 record-price properties sold in 2013, seven were new sales by developers. And in the past 15 months, of the top 20 priciest condo units sold, 11 were new sales. — Bloomberg

SINGAPORE: Values of the 10 most expensive condominiums bought during the last residential property peak of 2013 have all fallen over the past decade, with one unit sold at nearly half of what it first went for.

That prices per sq ft for these units have all tumbled from 2013’s high, despite rising prices for new properties in recent years, is a clear warning about the dangers of buying into markets that are spiking, said experts.