Uneven showing in Sept launches as developers jostle for buyers
[SINGAPORE] Developers' private home sales surged 65 per cent to 1,246 units in September from 756 units in August - though the figure was slightly less than half the 2,621 units transacted in the primary market in September last year. The figures exclude executive condominium (EC) units.
Based on preliminary figures, developers have sold 2,484 private homes in the third quarter - the weakest showing since Q4 2009, when 1,860 units were sold. This shows the total debt servicing ratio (TDSR) framework introduced in late June has bitten the private housing sector deeper than previous cooling measures.
DTZ's South-east Asia chief operating officer Ong Choon Fah said the ranks of property investors have thinned significantly and those still around are going mostly for smaller units.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Digital Core Reit Q1 distributable income slips 2.4% to US$10.6 million
BT subscribers can now share 5 premium articles a month with unlimited number of non-subscribers
First Reit reports 3.2% lower Q1 DPU of S$0.006 amid interest rate, forex headwinds
Vietnam holds first gold auction in 11 years to stabilise market
How Hudson Yards went from ghost town to office success story
Hot stock: Nanofilm jumps 13.1% amid heavy trading on improved Q1 results