Non-landed resale homes market remains soft in Feb

[SINGAPORE] Cooling measures and the Total Debt Servicing Ratio framework continued to send non-landed private home resale volume on a controlled descent to a level not seen since December 2008 during the global financial crisis.

Flash figures released yesterday by the Singapore Real Estate Exchange (SRX) showed resale transactions down 18.5 per cent month-on-month to an estimated 242 transactions last month.

The drop was a more pronounced 22.2 per cent on a year-on-year basis, from 311 resale deals closed in February 2013.