Residential

Private home price continues to fall   According to the National University of Singapore, the Singapore Residential Price Index (SRPI) has decreased by one per cent month-on-month in June. Nonetheless, the price index which reflects changes in the market for private condos is still 36.1 per cent higher than in January 2008. Data from URA showed that out of the 1,412 completed private homes that were not sold by the end of June, 63.3 per cent were located in the Core Central Region. From May to June, sale of private homes in the Central Region fell 1.5 per cent while those in non-central regions fell by 0.4 per cent. Ong Kah Seng from R’ST Research believes that restrictions on the Total Debt Servicing Ratio have impacted buyers’ ability to make large loans, hence, limiting their ability to purchase new homes. Nicholas Mak from SLP International ...