How the prices of condos in Singapore gets affected by the property cooling measure

1. has observed the highest price increase. For example, the prices of the 2 bedroom condos between 850 sq ft and 950 sq ft transacted within the range of 1 to 1.6 million in the last year, 2018. While a decade ago the prices were within the range of 0.5 to 1 million. Here an average of 77% growth in condos price has been observed during the last decade. The prime reasons behind this price hike are an introduction of new MRT lines in the region, also the revival of suburban localities and establishment of new growth corridors. How the prices of condos in Singapore gets affected by the property cooling measure Condominium or condos of Singapore are inviting, smart and pleasant places to live in, thus anybody who is coming in Singapore for the living purpose will want to avail condos as their primary choice. For that reason, the condos might be the most cost-effective option for purchasing your unit as per the available housing options in Singapore. If you are relocating for a while then the condos for rent in Singapore is the right choice for you, where you have options of different room size, to satisfy your privacy requirements. Also as per your convenience and budget, you can easily rent a room or flat as the condos are densely built across the city. But if you are looking for purchasing a condo in Singapore, you need to consider the lease period of the property, as per the rule all the condos for sale in Singapore comes under a lease period of 99 or 999 years. So the lease period is a prime factor behind the pricing of the properties. Also, there are a couple of options available herein, such as; the new launch condos and the resale condos. The price of these units usually varies based on the status of the property. Resale units: Within 2008 and 2018 the price of the resale properties has increased by about 72% on an average. While the price range of the resale units was ranged between 0.4 to 8.3 million on 2008 for the units between 850 sq ft and 950 sq ft and in 2018 the prices increased to the range of 0.8 to 1.4 million for the same sized units. How the property cooling measure affected the prices of the condos in Singapore: The government of Singapore announced on 18th July 2018, arising in Additional Buyer's Stamp Duty (ABSD) rates and also tightening loan-to-value (LTV) limits on residential property purchases. As per the new property curbs, a hike in ABSD has been observed, such as; the citizens of Singapore now need to pay 12% ABSD, while the previous rate was 7% and for the permanent residents, the ABSD has increased to 15% from the previous 10%. And the foreigners need to pay 20% ABSD, while it was 15% previously. Also, the LTV limits have most A report on the price increase observed in the condos during the last decade: New properties: During the last 10 years, the average selling price of the new properties affected first-time

2. homebuyers as because the LTV limit has been reduced to 75% from 80%, which reflected in the significant decline in new condos for sale in Singapore. The bottom line: This process is useful to keep the price hike in line with the primary economic fundamentals, as an initiative to cool the property market. These will continue to suppress the market going into 2019 as the price for purchasing a condo in Singapore will be increasing for the same, except of Singapore citizens and first time home buyers. These cooling measures caught the market compounded the negative returns for real estate developers with significant exposure to the Singapore residential market will be followed by the price growth. So we would like to suggest going through these points before finalizing your decision regarding condos for sale in Singapore, so you can have the detailed knowledge regarding the pricing and that will help you to fix your budget. by surprise and