24 Feb '14, 3am

[ICYMI] Developer delays launch of condo. Read more here

BUYING interest in residential property has been hammered so badly that one major developer has delayed a planned condominium launch. Heavyweight CapitaLand yesterday said it has postponed the launch of its project in Marine Parade originally slated for late last year. The launch will now be at an unspecified time this year after tighter loan rules known as the total debt servicing ratio (TDSR) hit the market last year. Mr Wong Heang Fine, chief executive of CapitaLand Residential Singapore, said at the firm's full-year results briefing at Capital Tower: "For Marine Parade, we have started construction. We decided to delay the launch to this year... Last year the TDSR came out in June, so we want to watch the response." The TDSR caps a borrower's total debt repayments at 60 per cent of gross monthly income, hitting a buyer's ability to afford a property. Mr Wong's comments...

Full article: http://www.stproperty.sg/articles-property/singapore-prop...

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