"measures fuel July surge in Singapore private home sales
DEVELOPERS in Singapore sold 1,724 private homes in July 2018, about 2.6 times the 654 units they moved in June 2018 and up 55 per cent from the 1,112 units they sold in July 2017.
These figures were released by the Urban Redevelopment Authority (URA) on Wednesday based on its survey of licensed housing developers.
The above figures exclude executive condominium (EC) units which are a public-private housing hybrid.
Among the top sellers last month were Park Colonial near Woodleigh MRT Station, Riverfront Residences in Hougang and Stirling Residences near Queenstown MRT Station – all released on the night of July 5, shortly after the government anounced the latest round of property cooling measures."
Another whether to laugh or cry economics news!!
These folks obviously believe prices of their recently purchased properties WILL go up up n away! Hence, the rush to buy now!
Hope they hv gotten their finances worked out n all can afford to pay the mortgages n any "unexpected" fall in the price of the propeety market!!
As far as i m concerned, the banks n finance companies that lend to these properties buyers better b prudent n MAS will b viligant n not allowed the case of "we need to avoid a collapse of the mkt or burst of the bubble as it would hv taken the while financial system down" to develop!
For the private mkt, if the gov want to let the mkt works freely, it must accept big ups n big downs too.
Otherwise, in every down cycle of properties mkt, the majority of tax payers r funding it!!
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