29 Aug '13, 8am

Property stocks fall on latest measures - Property Auctions News, Property Investment | PropertyGuru

The Singapore property index tracking 43 stocks fell 1.4 percent to 692.64 at the close of trading yesterday – the lowest in the last year. The decline was attributed to the government’s latest housing measures including reduced home loan tenures and buying restrictions on newly-minted permanent residents (PRs). Regulations in the public housing market affect private developers as they rely on the 82 percent of Singaporeans who live in flats who would soon upgrade to condominiums. “These measures continue to be negative for the Singapore private residential market, given that upgrader demand has contributed to a significant portion of mass-market private residential housing demand...A weaker HDB resale will impinge on upgrader households’ ability to monetise their flats,” said a report from Citigroup. Among the major developers, CapitaLand fell 2.3 percent to S$2.93, the l...

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

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