Tag Archives: Seven Palms

Supply, interest rates frame housing debate

Posted on 16 Oct 2009 | Comments Off on Supply, interest rates frame housing debate

The property market yesterday toasted the sale of a record 5,719 private homes in the third quarter, even though the industry posted a second consecutive month-on-month drop in sales to 1,143 units in September. Despite the high point, the discussion in property circles was marked by circumspection.

The number of homes that developers manage to sell in the fourth quarter as well as next year will be limited by the shrinking stock of launch-ready homes and developers’ fast-depleting landbanks.

While the economic outlook is improving, the accompanying scenario of rising interest rates may cause some to re-evaluate their property investment decisions as mortgage rates rise. If savings rates on bank deposits also increase, this will take some shine off parking money in property, which is what many investors have been doing this year, says DTZ executive director (consulting) Ong Choon Fah. Continue reading →

Comments Off on Supply, interest rates frame housing debate

Posted in Property Market / Real Estate, Property Price, Sentosa Property

Tagged , , , , , , , ,

September new home sales drop

Posted on 16 Oct 2009 | Comments Off on September new home sales drop

Still, full-year sales are expected to top 2007’s 14,811 units

THE recent buying euphoria in the new homes market appears to have cooled further, with developers selling 1,143 units last month, well down on the 1,804 units sold in August.

RELATED LINKS   SLIDING SALES

Property consultants attribute the fall to seasonal factors and price resistance, as well as government measures introduced last month to calm the fast-rising market.

A slowdown had been expected, as the fast and furious pace of sales – which hit a whopping 2,772 units in July alone – was not sustainable, they said.

Still, the weaker September sales figure is about treble the number of units sold in the same month a year earlier. Sales in the first nine months of the year are now 12,969 units. Continue reading →

Comments Off on September new home sales drop

Posted in Property Market / Real Estate, Property Price

Tagged , , , , , , , ,