24 Apr '14, 9am

Housing market still struggling, report reveals - Property Auctions News, Property Investment

Following the introduction of the Total Debt Servicing Ratio (TDSR) framework in June last year, the private housing market continued to be weak in Q1 2014 with price declines led by mid-tier and high-end homes, according to a Colliers International report. During the period, developers launched 2,015 units compared to 2,631 homes in the quarter before, while sales in the primary market fell by 30.7 percent to 1,754 units. “The lacklustre buying momentum came about despite efforts by developers to move sales, as well as the easing of some TDSR rules,” said Colliers. To entice buyers, developers dangled offers in the form of furniture vouchers, early-bird discounts, direct price discounts and partial absorption of stamp duty. But the allure of these promotions was outweighed by affordability concerns. As for the revisions to the TDSR, it only provided some reprieve to inves...

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

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