Resale of non-landed private residential homes tumbled 70.2 per cent from 1,039 deals in January 2013 to 310 deals in January 2014, and the Singapore Real Estate Report (SRX) says this is a direct result of cooling measures.
The 310 resale deals also represent a 9.1 per cent fall from last December’s 341 transactions.
“While CNY has had some impact, it is clear from the long-term data that the cooling measures are having maximum impact on the volume side of the equation,” said Jeremy lee, co-founder of srx.com.sg.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.