28 Mar '16, 3am

It’s a BUYER’s MARKET for now https://t.co/oBof7CF7MA

SRX Property projects that private supply of new residences will increase 15.5% in 2016, which translates to 21,906 units available for occupancy. This represents three straight years of above average supply to hit the market. At the same time, Cooling Measures have significantly dampened demand for private properties. At the end of 2015, landed property volume was down 79.1% and condominium buying was down 67.8% from their respective peaks in 2007. “It’s a buyer’s market,” says PropNex CEO Mohamed Ismail Gafoor. “I define this type of market as when a buyer has an advantage in getting a fair or discounted price. Any tweaking of the Cooling Measures will shift sentiment in favour of the seller so buyers need to be alert that time is running out.” The data certainly supports Mr. Ismail’s assessment. In 2015, days-on-the-market and price spreads were abnormally high at 4.5 m...

Full article: http://www.srx.com.sg/ask-home-prof/16832/its-a-buyers-ma...

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