Singapore's property market has entered a standoff between bargain-seeking buyers and developers sticking to their pricing guns, with March's new home sales dropping 83 percent from a year earlier.
"Buyers think they can have their cake and eat it," said Alan Cheong, senior director for Singapore at Savills Research. "They are expecting the other side to lose money on their behalf. That idea doesn't work if you have an economy that's fully functioning," he said, citing the city-state's unemployment rate of only 1.5 percent.
Tagged in:
A Fully functioning Economy
Affordability base on Total Household Income
Housing Affordability/ Financial Stability
Monthly mortgage repayments
Property loans repayments
Quantitative Easing QE
Rock- bottom global interest Rates
Singapore a Key Financial centre
Singapore property market cooling measures
Singapore property Market Cycle
Total Debt Servicing Ratio TDSR