Singapore home sales surge 23.8% in June

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Singapore-property
Demand for suburban property rises in Singapore

Rising demand for housing in Singapore, especially in more affordable suburban areas, has led to a 23.8 per cent rise in home sales – excluding executive condominiums – in June 2013, with buyers picking up 1,806 units directly from developers as compared to May’s new home sales of 1,459 units, which itself was also up 5.4 per cent from April’s number.

Around 3 quarters of home sales were made outside the central region of the city state, the Urban Redevelopment Authority said on its website on July 15.

The surge in sales came after Moody’s Investors Service cut its outlook for the city’s banking system on concerns that “rapid” loan growth and rising property prices in the city would add more risk to credit quality.

Singapore on June 28 issued new regulations on how financial institutions may grant property loans to individuals, extending efforts to curb excessive price increases and bad loans.

The small island state is among the priciest cities in Asia for property together with Hong Kong and Shanghai.

 

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Reading Time: 1 minute

Demand for suburban property rises in Singapore

Rising demand for housing in Singapore, especially in more affordable suburban areas, has led to a 23.8 per cent rise in home sales – excluding executive condominiums – in June 2013, with buyers picking up 1,806 units directly from developers as compared to May’s new home sales of 1,459 units, which itself was also up 5.4 per cent from April’s number.

Reading Time: 1 minute

Singapore-property
Demand for suburban property rises in Singapore

Rising demand for housing in Singapore, especially in more affordable suburban areas, has led to a 23.8 per cent rise in home sales – excluding executive condominiums – in June 2013, with buyers picking up 1,806 units directly from developers as compared to May’s new home sales of 1,459 units, which itself was also up 5.4 per cent from April’s number.

Around 3 quarters of home sales were made outside the central region of the city state, the Urban Redevelopment Authority said on its website on July 15.

The surge in sales came after Moody’s Investors Service cut its outlook for the city’s banking system on concerns that “rapid” loan growth and rising property prices in the city would add more risk to credit quality.

Singapore on June 28 issued new regulations on how financial institutions may grant property loans to individuals, extending efforts to curb excessive price increases and bad loans.

The small island state is among the priciest cities in Asia for property together with Hong Kong and Shanghai.

 

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