Headline Paragraph: Key angle
2015 saw 4886 resale units exchange hands in the private and EC market, a sharp decline of 30 percent year-on-year, over 2014’s figures. The majority of these resale transactions took place in the Outside of Central Region (OCR), with less than 50 transactions taking place in the prime districts of 9, 10 and 11.
Blockquote call-out
“We think that the market will continue slowing down in 2016, as there are few demand drivers and market sentiment is poor” |
Expert name, Expert’s Company
Paragraph 2: Other facts
Singapore’s cooling measures have brought down the overall Property Price Index (PPI) by 6 percent year-on-year since 2013. However, government officials have maintained their stance that cooling measures should not be lifted until further price corrections are seen.
D.Sim: No of bids reflect the need for developers to beef up their land bank; Singapore residential market is still a key business focus
— CBRE Singapore (@CBRESingapore) December 10, 2015
Backgrounding
| Singapore Cooling Measures
The Singapore government implemented 13 rounds of market cooling measures between 2011 and 2013, to bring down a rapid escalation in housing prices. Total Debt Servicing Ration, a form of loan curb which has limited affordability, and Additional Buyers Stamp Duty, which imposes higher fees on foreign buyers, have been credited with being the key measures that cooled the market. |