Is it the time to enter the Singapore property market?

According to SBR, the month of March is bad for property sales. Volumes slowed 33%. According to Colliers:

“… there were only two new projects launched in March. They are the 597-unit The Santorini located in the Outside Central Region (OCR) and the 28-unit Ascent@456 located in the Rest of Central Region (RCR) … Overall, the units launched in the CCR, RCR and OCR respectively took up 1.5%. 11.9% and 86.6% of islandwide new launches of 724 units (excluding ECs). The increase in new homes sales in both the CCR and RCR failed to mitigate the fall in project sales in the OCR, leading to a decline in the overall sales volume islandwide…Taking into consideration the healthy interest seen during the launch of Lakeville in early April, primary market sales volume is expected to climb to the region of 500-800 units in April before improving further in the following months. ”

For more details you can look up at the SBR report on expectation for April sales.

On a separate report in today’s Business Times, it was reported that the sales in the first three months in 2014 was just over 2000 units, first time below 3000 homes since 2009. The cooling measures such as TDSR, ABSD and SSD takes into effect as homes sales slowed down. However foreigners’ share of home purchases were creeping up to 30%. Chinese, Indonesians, Malaysians and Indian buyers continued to be the top 4 groups, accounting for 81% of all private home purchases by non-Singaporeans.

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