30 Aug '17, 4am

Housing market rebound fuelled by local demand

Singaporeans account for close to 80 percent of private home buyers here. Local buyers have been driving Singapore’s resurging residential property market, accounting for 77.6 percent of private home buyers during the first seven months of 2017, reported the Straits Times . The figure is an improvement from last year’s 74.4 percent. SEE ALSO: Property market upturn on the horizon Urban Redevelopment Authority (URA) data showed that new and resale private homes sales jumped 56 percent to 10,565 units in the first seven months of the year from 6,785 units over the same period last year. “Private home transaction volume so far this year has reached one of the highest levels since 2013 when mortgage rules were tightened through the introduction of the Total Debt Servicing Ratio (TDSR) framework,” said ZACD Group executive director Nicholas Mak. The rally, however, has been fue...

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

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