30 Jun '14, 2pm

Latest URA data showed developers moved 1,468 non-landed private residential units in May, a strong 96% jump from...

Latest URA data showed developers moved 1,468 non-landed private residential units in May, a strong 96% jump from...

On a quarterly basis, two months into 2014Q2, it has been the fourth consecutive quarter to see negative net absorption, indicating sustained weakness in the sentiments. This is not the first time that net absorption stayed successively in the negative region. Back in 2010Q4 to 2012Q2, negative net absorption of seven quarters in a row was observed amid intensive rollout of new fiscal policies by the government to cool the property market. However, compared to that period, the current negative absorption has been established on a backdrop of much reduced number of units launched. The 4,354 units rolled out by developers in the first five months of this year is nowhere near to the 7,440 units and 11,726 units launched over the same period in 2011 and 2012 respectively. This again highlights the impact of the TDSR framework on the developer sales market compared to the prece...

Full article: http://www.stproperty.sg/articles-property/spw-insights/c...

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