Collective sales of private homes slowed down 13% in Q2

The collective sales or en bloc sales market for private residential properties saw a slowdown of 13 per cent in the second quarter (Q2) compared to the first three months of the year.

The collective sales market in Q2 remained lukewarm as only four small sites were sold for a total of S$215.4 million. This is compared to the three deals worth S$247.8 million done in the first quarter.

Analysts said this is due to cooling measures such as the Additional Buyer’s Stamp Duty (ABSD) that kicked off in January.

Going forward, analysts expect sales to slow down further.

This could be due to the Total Debt Servicing Ratio (TTSR) which could further dampen the en bloc market, said Savills Singapore’s senior director of research & consultancy, Alan Cheong.

Source : Channel NewsAsia – 9 Sep 2013

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