All the way down: Private condo sales to plunge 20% in 2015

Buying activity will only pick up in Q4.

Private condominium sales is expected to plunge by at least 20% in 2015. According to a report by PropertyGuru, private property transactions will contract to approximately 2,000 units for the first three quarters of the year.

However, buying activity may pick up in the fourth quarter, with condo sales expected to jump to 3,500-3,700 units.

“Overall, we expect the number of transactions to trend downwards by at least 20 percent from 2014 figures. Buying activity for private non-landed properties may pick up in Q4, once buyers have determined that prices have sufficiently bottomed out,” stated the report.

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