News this week, condo resale volume dropped 20.5% from previous month, and resale volume crashed 41.8% compared with June 2018. Resale prices have also begun declining due to lower demand. Maybe it's better to focus on looking at resale condos instead.
Also in the news, Singapore economy is close to a recession and there is a big increase in retrenchments this year.
https://www.businesstimes.com.sg/re...-in-june-break-4-month-uptrend-srx-flash-data
Singapore condo resale prices down 0.4% in June: SRX
Jul 09, 2019
SINGAPORE'S condo resale prices were down 0.4 per cent in June from its May peak, breaking an upward trend that had lasted four months, according to monthly flash figures from real estate portal SRX Property released on Tuesday.
The decline in June follows a 0.4 per cent gain in May.
Prices in the core central region (CCR) saw the biggest decline, down 0.7 per cent, while prices for outside central region areas retreated 0.4 per cent.
Prices in the city fringes, or rest of central region, were unchanged from May.
Volume of sales dropped 20.5 per cent with 666 units resold in June, compared to the 838 units recorded in May. Year on year, the decline was bigger at 41.8 per cent fewer units resold compared with June 2018.