Singapore’s third quarter surge in housing demand

Headquartered in Singapore, according to Edmund tie Singapore real estate advisers say a private residential land sales for the second consecutive quarter, continued growth in the third quarter of 2019 reached 3,198 set new sales in the second quarter of 2019, compared with growth of 49.2 per cent

EDMUND TIE CEO Ong Choon Fah, said, “Home ownership in many Singaporeans priorities are at a very high position, whether it is first placed workers still houses the promoter, private housing remains a long-term goal.”

Every quarter, real estate developers have planned to their project launches carefully to meet the demand, a large number of catalytic conversion. needs varies from project to project and uneven demand is mainly attributed to a surge in Piermont Grand, Parc Clematis, Avenue South Residence, Treasure at Tampines, One Pearl Bank and The Florence Residences and other projects. ”

Central external region (OCR) in the third quarter, attracted a lot of people, quarter-on-quarter growth of 67 per cent of total sales, accounting for nearly 47 per cent (or 1,492 units).

The most popular area of 500 square foot apartment from the 1,000 square feet, at prices ranging between $1,000,000 – 1,500,000 for singles or young families as well as capital expenditure moderate investors and promoters, in terms of units can still afford it.

In the third quarter, new sales of between $1,500,000 and $1,000,000 quarter growth rate of 6.4 per cent to 47.1 per cent, compared with 40.7 per cent in the second quarter, however, the price of more than $2,000,000 in luxury apartments lost some traction, because buyers and investors are sensitive to prices: New sales of the high-end market share from 13% in the second quarter fell to 10 percent in the third quarter, trading in the third quarter, compared to about 79.6 per cent in the second quarter grew by 1.8 points by Singapore, these transactions were carried out by citizens (SC). Aliens (NPR) in the third quarter, accounting for 7.1 per cent of transactions, up 5.9 per cent the previous quarter, however, Singapore’s permanent residents in purchases of two consecutive quarters after growth edged down 1.5 points.

Ms. Ong said, “while the overall prospects remain relatively cautious, but underlying demand is elastic, and confident that Singapore real estate can be a long-term holder of the reliable asset classes.”

With Singapore’s reputation as a haven investment in real estate, Urban Renewal Authority (URA) numbers of the Earth, in fact, the price index since late 2017 has been on an upward trend, while land sales in the third quarter rose by a quarter over the previous two times, developers continue to replenish its land holdings, for $1,900,000,000.

Ms. Wang continued, “on the inside, Singapore has a strong economic foundation, as well as sound fiscal and monetary policy.” “Externally, RCEP’s good progress, with the upcoming CPTPP and our extensive FTA network, will ensure that we as a global network of important node status. This will help alleviate this Singapore open economies of some of the risks posed by. Face up to and including home ownership, is to develop long-term investment confidence. “


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