It’s Still The Developers’ Market – Will Condo Prices Drop Further?
With a sudden change in scenario, the foundation behind an accelerating demand and supply of real estate is directly affecting the property sales. Currently, some buyers are being forced out of the property sale arena because of government’s various measures leading to MAS’s strict loan restrictions on Total Debt Servicing Ratio (TDSR), and an increase in Additional Buyer Stamp Duty (ABSD).
Size of Condos Shrinking- Battle to Keep Prices Affordable
There is certainly a reduction in sizes of condominium units as developers are shrimping with all efforts to keep the new condo sale prices affordable for customers. With such a tough market conditions, this new study is finally out by property consultancy Knight Frank, as reported.
A strikingly new measures and highly strict lending guidelines have made it harder for home hunters to successfully finance new purchases. With comparatively small units been constructed by developers, it means that overall prices shall fit-in with buyers’ shrinking budgets, Knight Frank noted.
IMPACT On Recent New Launches – Condo Price Reduction!!
The study also looked into suburban condominiums launched in the past few years and entire impact of the Total Debt Servicing Ratio (TDSR) framework that was introduced last June. Here’s a look at various Starbuy Condos with condo price reduction:
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