Property consultancy firm Zerin Properties said the report card on the property sector by a counterpart was both “misleading” and “sensational.”
Zerin founder and CEO Previndran Singhe is questioning that assessment by CBRE|WTW.
Last week, CBRE|WTW managing director Foo Gee Jen was quoted as saying that the overhang was caused mostly by the oversupply of high-rise units, mainly serviced residences and small office, home offices (SoHo) units.
Foo said it could take more than five years for the unsold, high-rise units to be absorbed into the market if prices do not come down.
