23 Mar '15, 2pm

New: Singapore Property News This Week #200

In February this year, 382 private homes were sold. This is the lowest since February 2008, where 174 units were transacted. Nonetheless, the sale of private homes in February is 2.1 percent higher than in January this year. Market experts believe that sales will pick up soon as several new launches are expected to hit the market starting this month. According to Eugene Lim from ERA Realty, 70 percent of the transactions made in 2014 have been below $1.5 million. This is because of loan restrictions and the additional buyer’s stamp duty. Mohamed Ismail from PropNex said that a weak leasing market coupled with an increase in home supply have kept demand for residential property low. According to JLL, developers’ full-year private home sales will be about 4,800 to 5,800 units. On the other hand, CBRE predicts that about 6,000 to 7,000 will be sold, while ERA Realty believes ...

Full article: http://www.propwise.sg/singapore-property-news-this-week-...

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