Is Singapore residential development a viable business?
Margins are thinning, but the Singapore market has some stable, reliable strengths that keep long-term players going
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Singapore
DEVELOPERS' profit margins from Singapore private housing development projects have thinned with net margins for some private housing projects estimated to be around 10 per cent or less.
While home prices are buoyant, increases in construction costs, land costs and agent commissions have squeezed margins. In the near term, shortage of construction workers will delay project completions and add to costs.
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