Residential

TDSR weakens new private home sales

It is reported that the new loans curb curb in the form of the Total Debt Servicing Ratio (TDSR) has severely affected recent private home launches of the Glades in Tanah Merah and The Skywoods in the Dairy Farm area, which saw weak and stalled sales since the first day of booking. Keppel Land sold around 80 units at 99-year-leasehold The Glades next to Tanah Merah MRT Station, with the majority of the sales done on the first day. The average price for the 200 units released in this 726-unit development ranged from $1,450 to 1,500 psf. However, the nearby Urban Vista condo, when released back in March, saw 220 units being sold by Fragrance and World Class Land with the average price of $1,500 psf. The 99-year and 420-unit project Skywoods only sold 35 units last Friday, then 10 units on both ...