When the Government introduced loan curbs via the Total Debt Servicing Ratio (TDSR) framework last June, the private housing market went into a tailspin. The repercussions — tepid sales and weak prices — were so severe, some market analysts took to describing the curbs as cooling measures. Many tend to forget that the majority of private home buyers these days are investors first rather than...
singapore property
The Total Debt Servicing Ratio (TDSR) was introduced in June 2013 to ensure financial prudence among borrowers and strengthen credit underwriting practices among banks. The ratio determines how much an individual can borrow from the banks. Under it, total monthly debt payments including home and car loans cannot exceed 60 per cent of the property buyers' income. These debt payments are wide-ranging and...
Developers in Singapore have been cutting prices for some city fringe and suburban projects. Property watchers Channel NewsAsia spoke to say price cuts are likely to be done in a "very limited way" in the city area despite a lower take-up rate of new homes there over the past year. Developers have been launching fewer units in the city area. For instance, in the first five months of this year, 231...
The private residential property market sprang to life in May after months of remaining in the doldrums, with developers’ sales surging 96 per cent as buyers snapped up units at the slew of new launches last month. Developers sold 1,470 new private homes last month, nearly doubling the 749 units that they moved in April, latest data by the Urban Redevelopment Authority (URA) showed on Monday (June...
While more developers have taken to cutting prices to improve sales amid a property slowdown, potential home buyers anticipating a broad-based price war may be disappointed as the private residential market has yet to reach a tipping point that could trigger such a situation. Analysts told TODAY that most developers are not in a rush to lower prices given that demand has yet to reach a standstill....
As you sit on your balcony, would you rather enjoy the sunrise or the sunset over the water? When it comes to property prices, it makes a difference. As measured along the East-West MRT line, you pay less for private housing in the east than you do in the west. Using Raffles Place’s median price per square foot (psf) as the basis for comparison, as you move east or west along the MRT line, prices...
Resale transactions for non-landed private residential units fell by 7.5 per cent month-on-month in May, and prices dipped slightly to mark a 17-month low since December 2012, according to Singapore Real Estate Exchange (SRX). In its flash report for May released on Monday (June 9), SRX said an estimated 421 transactions were registered, down from the 455 transactions in April. This represented a 42.6...
Residential properties in prime Singapore districts have become less popular with Indonesians investors, who are now focusing on cheaper apartments in outlying areas, real estate consultancy DTZ said on Tuesday (May 27). DTZ said fewer than one in five of homes purchased by Indonesian investors during the fourth quarter of 2013 and the first quarter of 2014 were in districts 9, 10 and 11. This is...
Property assets make up 80 per cent of the total wealth of an average Singaporean, according to financial advisory firm Financial Alliance. And with Central Provident Fund (CPF) money being used for property purchases, savings meant for retirement are being locked up in real estate. Amid this backdrop, the Ministry of Manpower has said it will "review and make improvements" to the CPF...
To see how impactful the government’s cooling measures have been, look no further than District 9. Data from the Singapore Real Estate Exchange (SRX) for last month showed that the median Transactions-Over-X Value (TOX) for District 9, which consists of Orchard, Cairnhill and River Valley, was negative S$130,000. Each month, SRX algorithms compare the actual transacted value for each unit in a...