26 May '14, 7am

Market sentiments already negative, would ABSD be removed soon? TDSR itself is already a big deterrant..

It added that in reality, these views are also reflected in lower take-ups by both foreign and investment demand. “Foreign demand has fallen, now making up less than 10 percent of new sales compared to 15 percent two years ago. Investment demand has fallen as well, with upgraders making up more than 60 percent of new sales versus 50 percent two years ago.” Just like locals, CIMB believes the expectation of falling prices is the main deterrent to buying properties now. Singapore remains fundamentally a good city to own a property and demand should be supportive when property prices fall to a reasonable level. It said: “In our view, that reasonable level is a 10-15 percent decline in the next two years. With the recent fall in property prices, we have already started to see the proportion of foreign buyers creeping up.”

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

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