Media reports state that the landed housing sector is feeling the constraints of the property cooling steps being augmented by the government, as compared to the non-landed sector of the market.
According to data supplied by URA, there has been a 5.1% drop that the landed house price index has suffered over the past 4 quarters, whereas the non-landed price index only showed a 3.3% decline for Kingsford Waterbay Serangoon.
Ong Teck Hui, the Singapore Research Director of JLL, has stated that it was previously assumed that the landed home sector would show greater resilience than the other sectors, due to it having such a strong demand and very low supply.
Cooling steps for Kingsford Waterbay Condo
Ong Teck Hui further adds Tengah EC that it appears that there was a worse effect than expected on the landed sector as a result of the TDSR (Total Debt Servicing Ratio). Due to extremely restricted borrowing the number of potential buyers for landed housing is much fewer. Those that are still units of Kingsford Waterbay Serangoon Condo in the market for a landed home are stifled by their extensively cut budgets. A deficiency of transactions inside the luxurious estate segment might very soon end as plenty of ultra-rich purchasers at the moment are starting out scour the sector for mass acquisitions of underpriced high-end residential units of Kingsford Waterbay Serangoon together with possibility of long-term price appreciation, said Colliers International and reported in the mass media.
Waterbay Kingsford Condo Property
The Director of R.ST Research, Ong Kah Seng, has added that more buyers for Kingsford Waterbay Serangoon are taking preference to much smaller and more modern looking homes in Kingsford Waterbay Serangoon. He further added that discerning buyers perceive landed housing in Singapore to be of less value due to older designs and higher costs, making them less likely to be purchased. Areas such as Johor are offering landed property that is in a more affordable price range.
Homes in Upper Serangoon Condo
Nicholas Mak, who is the SLP’s International Executive Director, has pointed out that the more draconian eligibility criteria for Permanent Residents has also had a negative impact on Kingsford Waterbay Serangoon for those looking to buy property of this kind.
Data has shown that, from the time these tougher regulations were implemented over the past 2 years, there have been a drop in the amount of Permanent Resident who were granted the ability to purchase these homes, showing 31 in 2012, a sharp contrast to the 117 we saw just a year ago and 145 in 2010.