21 Jan '15, 2pm

Singapore Property Sales Hit 6 Year Low: The Singaporean government’s cooling measures have had a major impac...

Share RSS Print E-mail Comments The Singaporean government’s cooling measures have had a major impact: sales of new private homes dropped in 2014 to their lowest level for six years, according to Urban Redevelopment Authority data. Prices have also fallen. Developers sold only 7,557 units in 2014, just above half the units sold a year earlier. Nearly 22,000 units were sold in 2012 which dropped to about 15,000 units in 2013. Only 230 units were sold in December, the lowest monthly figure since January, 2009 when developers sold only 108 units. Experts believe that restrictions on borrowing and measures taken to curb speculation are to be blamed. Housing prices fell by 6% in 2015; however, experts rule out the possibility of further drop in home sales. As the first quarter of 2015 is likely to remain sluggish, the developers may be forced to price their units competitively....

Full article: http://www.nuwireinvestor.com/articles/singapore-property...

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