Singapore’s residential real estate sector is still sizzling hot despite government cooling measures, according to Savills’ Residential Sales Briefing for October.
According to the briefing, July saw 1,946 new homes sales, a rise of 42 percent month-on-month. That puts the total sales figure for the first eight months of 2012 at 15,300 new properties, close to the full-year total of 2011.
With the latest round of quantitive easing in the US, where the Federal Reserve intends to pump US$40 billion into their economy per month until more sustainable job growth is restored, Savills anticipates a return of foreign investors into the Singapore property market. Especially the high-end segment of the market is expected to benefit, after having witnessed a couple of slow months as a result of the additional buyers’ stamp duty. Full story
