30 Jul '15, 7am

Buying interest picks up in luxury property market: report

Comment E-mail to friend Bookmark & Share Singapore’s luxury property market witnessed some stirrings in 1H 2015 as buying interest picked up, according to the latest report from CBRE Research. During the period, 15 Good Class Bungalows (GCB) were sold at an average price of S$1,442 per sq ft, up from the S$1,381 per sq ft achieved in 2H 2014 but lower than 1H 2014’s S$1,488 per sq ft. CBRE noted that GCB prices managed to remain resilient even as sales volume had taken a beating during the last two years. “While the cooling measures did not manage to bring a significant price correction, they have helped to curb the exuberance in buying and have prevented investors from over-leveraging themselves in mortgages. This has resulted in a stronger and healthier property market. GCB buyers are generally owner-occupiers or long-term investors with stronger financial muscle,” it a...

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

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