17 Sep '13, 6am

Muted home sales to continue, say analysts - Property Auctions News, Property Investment

Home buying demand is expected to remain sluggish in September due to the Total Debt Servicing Ratio (TDSR) rule implemented on 29 June that affects all property loans, several consultants said. They do not expect developers' sales volume to exceed 800 units this month, a sharp contrast to the 1,806 new private housing units transacted in June, which excluded executive condominiums (ECs). Since then, sales at new launches dived 73 percent to just 481 units in July but picked up to hit 742 homes last month on the back of a more than 200 percent month-on-month increase in projects released. "Not only are banks taking a longer time to evaluate and approve loan applications, some home buyers are expected to be priced out of the market, while others will need to re-evaluate their ability to afford," said Chia Siew Chuin, Director of Research & Advisory at Colliers International...

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

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