Despite the fact that the city state dropping GDP manufacture activity is adversely influencing the city state’s financial system, a drop in The Terrace EC house prices could certainly lead to an increased threat in the financial system. The town state’s financial system increased by only 1.2 percent in Q2 2014 on an annual basis in line with statistics published yesterday evening.
Housing Demand for The Terrace EC
Particularly, the quarter’s low GDP expansion is primarily associated with slowing building activity due to the introduction of the TDSR measurements to curn rising property prices, using the sector suffering dismaying expansion of 1.3 percent when compared with 4.1 percent in Q2 2014. On the other hand, price corrections for The Terrace EC are of greater concern. Based on ERA data, price levels in Singapore’s prime housing market dropped by 7.4 percent in the previous quarter.
It is to note that Aug’s Built-To-Order (BTO) exercise didn’t result in surge in desire for 2 or 3-room flats situated in non-mature estates, even given that the governing had made it possible for existing flat homeowners buying these houses to pay for reduced down payment. reported the press. This mean that general demand for housing is not as strong as previously indicated and that there is an underlying issue with housing demand for The Terrace EC.
Demand for The Terrace EC in Punggol
As of Tuesday, the application rates for 2nd-timers for two together with three-room units in Punggol drive BTO project also reach the lows and stood at 0.4 along with 2.3 respectively, while two together with three-room flats in a Jurong West project posted an application rate from second-timers of 0.3 along with 1.6 respectively. This shows that demand for HDB flats are very low much less demand for ECs for other private properties in the Punggol or Sengkang area.
Punggol EC Demand
General Lagging and weaker sentiment as well as prospect of further price decreases will hamper sales amounts within the private real estate market, especially of resale homes near Punggol The Terrace EC. It is also indicated that the government do not intend to remove the property cooling measures in the near future and therefore many buyers will hold back on their purchase. From the resale market, although some units happen to be priced lower, one can find home sellers planning to hold off till current market conditions are more favourable. Conversely, need for new homes is anticipated to hold up better as developers have more agencies to feature projects smartly and creatively to obtain real estate investors for The Terrace EC.