UOB Kay Hian bullish on S'pore residential, office segments
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They noted the strong pick-up in sales momentum and pricing in the residential sector in 2017. This was led by the luxury segment (transactions above S$3,000 per square foot), which first showed signs of recovery in early 2016.
The residential recovery was also driven by "pent-up" demand arising from the implementation of the Total Debt Servicing Ratio in 2013, they added in their research report.
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