23 Aug '17, 3am

Property market upturn on the horizon

There’s mounting confidence that Singapore’s real estate market is about to recover from its four-year slump, reported Bloomberg. According to the latest data from the Urban Redevelopment Authority (URA), developers sold 3,077 private homes (excluding executive condominiums) in Q2 2017 compared to 2,962 units in the previous quarter and 2,256 units in the same period last year. SEE ALSO: Surging developer sales point to further property market recovery Share prices of major local developers have also risen significantly this year. For instance, that of CapitaLand increased by 24 percent to S$3.76, while City Developments Ltd (CDL) shares rose 40 percent to S$11.48 as of 9.41 PM EDT on Tuesday (22 August). But Bloomberg Gadfly columnist Andy Mukherjee thinks that the start of a property upswing in Singapore needs someone influential to commit to an iconic long-term developm...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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