28 Jan '16, 6am

#singapore #property Property trough in sight: CBRE: Singapore's residential market is

Compared to the robust market conditions seen in 2013, sales of new private homes in the last two years have been severely depressed, with transactions halving to 7,300 units in 2014 and 7,440 units last year, according to CBRE Research. The report stated that Singapore’s housing market is likely to remain flat this year as demand continues to be hindered by the property cooling measures, economic slowdown and rising interest rates. As sales have slowed, developers are finding themselves stuck with many unsold units, but the situation is not as bad as before. The number of uncompleted unsold units fell to 23,000 at the end of 2015 from nearly 27,000 in 2014, said CBRE. “The reduction is due to lesser new projects being added due to fewer sites being sold in 2015, translating to a limited new supply going forward.” Meanwhile, the private property price index has dropped by ...

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

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