Month: April 2020

As opposed to the figures that were anticipated in the Q1, the prices of private homes only dropped by 1%. Nonetheless, the extension of the circuit breaker period will have its impacts on the market thereby, exposing it downward pressure in the coming days, as per the predictions of the experts.

Experts have also delineated that there can be serious scopes for job losses followed by a string of other economic ambiguities throughout the lockdown.

CBRE’s head of research in South-East Asia, Mr. Desmond Sim, envisages that the prices will correct themselves by 5% to 8% within this year. He further added that uncertain economic situations might hold back buyers but, the developers who have weaker holding power can offer competitive pricing to let out their units in the market.

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According to the Monetary Authority of Singapore (MAS), certain limits in the delayed payments for consumer loans and mortgages will be renounced to aid the borrowers to get over the economic setback.

The agency made it clear that the total debt servicing ratio (TDSR) will not be applicable to the deferment of mortgage repayments concerning commercial, residential and industrial property dues, unsecured credit facilities including personal loans and credit cards and refinancing of residential mortgages that are essentially owner-occupied.

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If the statement surfaced by the Housing Board is to be believed, the construction of the Build-To-Order(BTO) flats will be accelerated after the previously-imposed circuit breaker measures are relaxed to restore the momentum of the projects.

Just like the other domains of the industry, all the on-site activities circumscribing the BTO projects have been halted since April 7^th owing to the government’s attempts to curtail the spread of the novel coronavirus as much as possible. As per reports, the suspension will be valid till the 4^th of May, until and unless the government issues any further notice regarding the same.

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