More owners of luxury condos selling at a loss

A larger percentage of high-end luxury condo homes on the resale market are selling at a loss and a smaller percentage at a profit, as the tide of the once-rosy property market recedes and reveals those who have been "swimming naked" - that is, those without adequate holding power for their extravagant purchases, the Business Times reported.

According to data compiled by STProperty.sg from URA Realis, 7% of transacted units in the prime districts 9, 10 and 11 sold at a loss in the first eight months of this year, up from 5.5% over the same year-ago period.