Since the introduction of the Total Debt Servicing Ratio (TDSR) in mid-2013 to cool the property market, sales of condominium units have plunged by around 60 percent, revealed property consultancy JLL and reported in the media.
Caveats lodged in the first half of 2013 show 12,909 condo sales, but in the last six months of 2014, the figure plummeted to only 5,126 units.
The slowdown in the market will likely continue this year, say consultants, adding that sales may get worse as home buyers wait on the sidelines for further price falls.
Romesh Navaratnarajah, Singapore Editor at PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
