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While fresh private house sales appear to be on the rally, underpinned by higher costs of new launches and resilient demand amid an uncertain economic climate, the prognosis may not be as great for resale condos.
According to a report by OrangeTee & Tie, resale transactions have slowed and a few owners in the suburbs and city fringe areas may have reduced asking costs in the face of competition from brand new launches.
Cost gap expands, with fresh sales surpassing resales for the very first time in 3 years.