Buying frenzy at AMO Residence drives debate on need for more property cooling measures
CHAMPAGNE may be flowing in the boardrooms of UOL Group and its consortium partners Singapore Land Group and Kheng Leong Group. The UOL-led consortium sold over 98 per cent of the 372 units of 99-year leasehold private residential development, AMO Residence, the year’s first major new launch in the Outside Central Region (OCR), by the first day of its launch on Jul 23. Based on market talk, pricing achieved was roughly around the S$2,100 per square foot level.
Home loan rates are rising, which makes financing for home purchases more costly. Economic growth at home and abroad may slow amid the prolonged conflict in Ukraine, supply chain disruptions and rising inflation.
Still, the private home market in Singapore looks to have shaken off the shock of property cooling measures introduced on Dec 16, 2021. Prices of private homes rose by 3.5 per cent quarter on quarter in the second quarter of 2022, versus the 0.7 per cent quarterly increase in the first quarter, according to data by the Urban Redeve…
SEE ALSO
A NEWSLETTER FOR YOU
Property Insights
Get an exclusive analysis of real estate and property news in Singapore and beyond.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access
Far from thawing, the US-China economic war could see a new front opening up