reporter2
20-11-12, 21:38
http://www.btinvest.com.sg/property/local/spore-q3-homes-sales-fall-from-q2-except-in-prime-area-dtz/
S’pore Q3 homes sales fall from Q2, except in prime area: DTZ
20 Nov 2012 12:08
Third-quarter sales volume in Singapore’s residential market fell on-quarter across all regions and sub-markets, except for the core central region, which recorded a 43 per cent increase in the primary sales segment, the latest report by DTZ Property Times showed.
The study also found that the only price band to record an increase in Q3 was the S$5-10 million band, bolstered by the landed segment, which rose 11 per cent on-quarter to 80 units.
Demand for landed homes more than S$10 million category was also strong, with Q3 recording more Good Class Bungalows (GCB) and Sentosa Cove houses purchases compared to Q2.
The proportion of foreign purchases remained low at 7 per cent in Q3, averaging 6 per cent for the first three quarters of 2012, a steep fall from 18 per cent in 2011, it said.
Local and Permanent Resident (PR) demand in the prime areas rose in Q3 while foreign demand fell, due in part to developers extending the 10 per cent additional buyer's stamp duty (ABSD) rebate for foreigners to Singaporeans and PRs.
Mainland Chinese buyers (including permanent residents) are returning to the market, after a sharp pullback in Q1. They overtook the Indonesians in Q3 to become the second top non-Singaporean group of buyers, after the Malaysians.
Purchases by USA nationals also rose, following the implementation of the ABSD, as they are not subject to the additional 10 per cent stamp duty, the report said.
Looking forward, DTZ says the market will continue to be supported by local buyers despite the latest cooling measures on loan tenure and loan-to-value limit implemented in October 2012.
It says: "We expect limited impact on the high-end segment of the residential market as buyers have deeper pockets.
"In other segments, demand is expected to shift to smaller and more affordable units as buyers with budget constraints move one notch lower."
S’pore Q3 homes sales fall from Q2, except in prime area: DTZ
20 Nov 2012 12:08
Third-quarter sales volume in Singapore’s residential market fell on-quarter across all regions and sub-markets, except for the core central region, which recorded a 43 per cent increase in the primary sales segment, the latest report by DTZ Property Times showed.
The study also found that the only price band to record an increase in Q3 was the S$5-10 million band, bolstered by the landed segment, which rose 11 per cent on-quarter to 80 units.
Demand for landed homes more than S$10 million category was also strong, with Q3 recording more Good Class Bungalows (GCB) and Sentosa Cove houses purchases compared to Q2.
The proportion of foreign purchases remained low at 7 per cent in Q3, averaging 6 per cent for the first three quarters of 2012, a steep fall from 18 per cent in 2011, it said.
Local and Permanent Resident (PR) demand in the prime areas rose in Q3 while foreign demand fell, due in part to developers extending the 10 per cent additional buyer's stamp duty (ABSD) rebate for foreigners to Singaporeans and PRs.
Mainland Chinese buyers (including permanent residents) are returning to the market, after a sharp pullback in Q1. They overtook the Indonesians in Q3 to become the second top non-Singaporean group of buyers, after the Malaysians.
Purchases by USA nationals also rose, following the implementation of the ABSD, as they are not subject to the additional 10 per cent stamp duty, the report said.
Looking forward, DTZ says the market will continue to be supported by local buyers despite the latest cooling measures on loan tenure and loan-to-value limit implemented in October 2012.
It says: "We expect limited impact on the high-end segment of the residential market as buyers have deeper pockets.
"In other segments, demand is expected to shift to smaller and more affordable units as buyers with budget constraints move one notch lower."