Residential

Luxury home markets hit by cooling measures

According to JLL, the average capital values for luxury homes fell by 0.6% in Q1 as a result of cooling measures such as a higher ABSD and a tighter LTV ratio. This is compounded by the slower slower population and economic growth. Similarly, a CBRE report stated that despite a 1.8% increase in prices of luxury homes to US$2,297 psf, transaction volumes have fallen as a result of the cooling measures. Looking ahead, demand and prices are expected to remain stable, with capital values falling by up to 5%.

(Source: Business Times)

Developer sales of private homes fell by 50% to 1,375 units in April

Developer sales of private homes excluding ECs fell by 50% from 2,793 units in March to 1,375 units in April as a result of the fall in launches from 3,489 units in March to 1,158 ...