Weekly Industry News

Property overhang seen not critical

Weekly Industry News

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.

Media Title: The Star

Date: 21 Jan 2020

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