Singapore, 15 September 2015
Desmond Sim, Head, CBRE Research, South East Asia said, "The
sales numbers for August point to stable underlying demand for projects,
reverting to the 400-500 level following the spike in the previous month. It
will be some time before any decision is made on the lifting of cooling
measures because sudden spikes skew the overall sales volume data. Post-election
sentiment is not a major factor in shifting demand patterns; the prospect of a
rise in interest rates, will in fact, play a bigger role in determining how
demand levels pan out in the near future. The market did not see a pick-up in
EC sales in August following the rise in the income ceiling, probably because
buyers still need to take into consideration larger factors including developer
track record, finishings, location, the
Mortgage Servicing Ratio factor, as well as the nearly 5,000 unsold EC units
currently in the market. Compared to the previous year, however, there should
be a 5 – 10 per cent increase in EC sales volume for the whole year, a function
of the higher number of EC launches this year and the larger pool of qualifying
buyers as a result of the rise in the EC income ceiling.”
Disclaimer:
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
