More private property buyers choosing smaller units, say analysts

More private property buyers are choosing smaller units, according to analysts.

They said they have observed this trend after loan curbs were implemented in June.

They also said that they expect private property prices to remain stable in the next few months, with properties priced below S$1 million being the most popular.

Ku Swee Yong, CEO of Century 21 Singapore, said: “Buyers are now a lot more limited by their budgets because of the Total Debt Servicing Ratio consideration.

“So I think in the next 12 months, the more popular units would still be the smaller-sized units.”

Analysts also said developers are now reluctant to give discounts or furniture vouchers to buyers, as these incentives will have to be reflected in the sale price.

Instead, developers are focusing on incentivising the property agents, by giving them higher commissions.

Source : Channel NewsAsia – 18 Oct 2013

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