16-11-2013, 08:49 AM
Latest update on Singapore property market sentiment...
Singapore home sales fell 48% in October after loan curbs: update
Singapore’s home sales fell 48% in October from a year ago, signaling that the government’s efforts to cool the property market are working.
Home sales slid to 1,009 units last month compared with 1,949 in October 2012, according to data from the Urban Redevelopment Authority released today. From the previous month, sales decreased 19%, the data showed.
Home sales have been declining in the past four months compared with figures last year after the government imposed new rules in June governing how financial institutions grant property loans to individuals. Record home prices amid low interest rates raised concerns of a housing bubble and prompted the city-state to introduce new taxes and higher minimum down- payments since 2009 to curb speculation in Asia’s second-most expensive housing market.
“Developers have been a bit apprehensive about the sentiment so they seem to have marketed fewer projects,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. Home buying has “stabilized”, he said, citing the fact that 90% of the homes marketed were sold last month, based on today’s data.
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http://www.theedgesingapore.com/the-dail...pdate.html
Singapore home sales fell 48% in October after loan curbs: update
Singapore’s home sales fell 48% in October from a year ago, signaling that the government’s efforts to cool the property market are working.
Home sales slid to 1,009 units last month compared with 1,949 in October 2012, according to data from the Urban Redevelopment Authority released today. From the previous month, sales decreased 19%, the data showed.
Home sales have been declining in the past four months compared with figures last year after the government imposed new rules in June governing how financial institutions grant property loans to individuals. Record home prices amid low interest rates raised concerns of a housing bubble and prompted the city-state to introduce new taxes and higher minimum down- payments since 2009 to curb speculation in Asia’s second-most expensive housing market.
“Developers have been a bit apprehensive about the sentiment so they seem to have marketed fewer projects,” said Nicholas Mak, an executive director at SLP International Property Consultants in Singapore. Home buying has “stabilized”, he said, citing the fact that 90% of the homes marketed were sold last month, based on today’s data.
...
http://www.theedgesingapore.com/the-dail...pdate.html
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