The residential market in Singapore Property has been quite challenging this year but there are still a continued silver linings and pockets of opportunities available for those who are interested. With the government’s full support on the development and growth of the city there are a lot of new MRT stations being developed namely Circle Line MRT station and others.
The year 2015 has been bitter for the residential property market. Since the implementation of TDSR or Total Debt Servicing Ratio in 2013 the sales in the private home has been badly affected. And it continued in 2014 until 2015. But with the average sale of 660 private homes monthly in 2015 it is slightly higher than the 630 average of 2014. Even if there’s an increase in numbers it is still lower than the 1000 average units monthly before 2014 and even higher numbers before that.
But there are some projects that have been positively welcome by investors and interested buyers from the moment it launched. Projects such as the Thomson Impressions and Principal Garden have recorded a positive review from interested buyers.
This is a great opportunity for the investors since properties that are in Rest of Central Region or RCR simply stood out among others and secondary sales and rentals are gaining positively.
Principal Garden is a project by the Secure Venture Development Private Limited and it is located in Singapore’s District 3. There will be a total of 663 units to be released and it is expected to be finished by 2019. As for the Thomson Impressions a project that is being developed by Nanshan Group and it is located at Singapore’s District 20. There will be a total of 280 units to be sold and it is also expected to be completed by 2019.
There has been a lot of positive news for people who are planning to buy or invest on some residential property in Singapore and now is the best time to do it while there’s still a good buying behavior that is expected to continue until 2016.