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Main > Condo / Apt for Sale > Property market upturn imminent
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Date Posted: Dec 10, 2017
Category: Condo / Apt for Sale
Street Name:
Clementi
12000
District / Estate: 15
Price: SGD $ 1,000
Description:

Singapore's residential property market went into a scenario of physical surplus in late 2013. Over 2014 to 2016, brand-new units coming into the market climbed to around 50,000 per year, double the dimension of family development. Accordingly, vacancy rates climbed up three percent factors from 5 per cent at the end of 2012 to 8 percent at end-2016.

Throughout 1997, 2001 and also 2008, policymakers applied loosening actions after residential property price decreases ranging from 8 per cent to 16 percent. Today, with personal property costs currently decreasing by near 12 percent from its optimal, we have gotten in an alleviating cycle in macro-prudential policies. In March this year, the government made modest revisions to the seller stamp responsibility and also total financial debt servicing proportion. These calibrated changes were not indicated to have a significant effect on the building market, yet sent out a clear signal that the federal government stands all set to sustain the housing market where needed.

Go to Patrick Foundation to learn more.



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