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GDP Contraction

Posted by on October 19, 2020
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Singapore economy faced a contraction, slightly beyond expectation year to year in the third quarter Q3 2020 from a year ago as shown in the Wednesday preliminary data. Year to year shrinking of Gross Domestic Product (GDP) by 7% in July to September was announced by Ministry of Trade and Industry. Poll conducted by Reuters from a group of prominent economists expects a contraction or decline by 6.8% which is comparatively close thereby confirming the same sentiment of the economy contraction in the industry as a whole.  With such contraction, there is surprisingly minimal effect on the sales of new condo with the most recent new condo launch by developers

The Arden by Qingjin, The Arden location in D23, The Arden price – to sell
CDL to develop Piccadilly GrandPiccadilly Grand location in cityfringe
Sceneca Residence in Tanah Merah by MCC, Sceneca Residence location mins to MRT

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