Singapore home sales surge 23.8% in June

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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[caption id="attachment_12566" align="alignleft" width="300"] Demand for suburban property rises in Singapore[/caption] 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...

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.

 



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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