Weak sentiment still weighing down Singapore property market

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Weak sentiment still weighing down Singapore property market

Post by jessi » Thu Jul 14, 2016 2:45 pm

Weak market sentiment continues to weigh heavily on the real estate market in Singapore, Real Estate Developers' Association of Singapore (Redas) president Augustine Tan said on Tuesday (July 12). http://www.businesstimes.com.sg/site...?itok=0mPQqm2P
Mr Tan said that since the successive introduction of property cooling measures from 2009, the demand for private residential property has fallen sharply on the back of a hefty supply.Addressing the Redas Property Market Update Seminar 2016 in Singapore, Mr Tan said that as of May 2016, there is a supply in the pipeline of 57,597 new private residential units and 12,077 executive condominiums. While unsold units stand at around 15,000, the supply is still significant in view of the prevailing weak demand, said the Redas chief.

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