Stable Property Market

In this year’s anniversary dinner that was held at Marina Bay Sands for the Real Estate Developers’ Association of Singapore, Heng Swee Keat, the Minister for Finance, stated that having a property market that was both stable and sustainable in Singapore was in all of the stakeholders best interest for Sturdee Road Condo.

Mr. Heng reminded everyone that Sustained Land Condo homeowners, the industry itself and the government all have a shared interest in making certain the property market is made stable and can be sustained as such. There have been stark reminders of the dangers of property bubbles, the hazards of credit and an ongoing risk of asset markets breaking away from the basic foundations of the economy, such as the 2007-2008 Global Financial Crisis resultants and the sub-prime collapse in the United States for Sturdee Road SL Capital Condo.

Stable Sturdee Road SL Capital Condo

The United States has faced some severe consequences as a result of a collapse in the housing market that quickly snowballed into the system of finances, further resulting in a recession that didn’t just affect the United States, but impacted the global economy as a whole.

These comments were made at the same time that many players in the property market have continued to grate at the level of impact that the cooling measures put in place by the government in the past couple of year. The remarks bring to light a number of issues that developers are faced with, such as Sturdee Road Sustained Land Condo residential units being in oversupply, a rise in inventory going unsold and the cost of operations and construction rising.

Sustainable Property Market SL Capital Condo

Augustine Tan, president of REDAS, pointed out during the event that prices could not fall too steeply without having a detrimental affect on their products quality and obligatory operations.

He further pointed out that, considering the significant progress being made in the built environment’s standards, going backwards was no longer a possibility. The only path ahead is towards progression for Sturdee Road Condo.

Using the data obtained from a recent member survey by REDAS, which encompassed 14 launched non-landed projects between 2013 to 2005, Mr. Tan emphasized the fact that price reduction had been reported by the respondents of the survey of up to 11%. Some projects had even had to make price cuts since 2013.

Sturdee Road Condo Property Market

There are still 3,000 units that remain unsold from 2012’s Government Land Sales Program in several projects, and time is running out. These┬áSturdee Road SL Capital Condo units need to be 100% sold by developers of these projects by 2017, or they will not qualify for the exemption of the ABSD on the cost of land, stated Mr. Tan, who also Far East Organization’s executive director and in charge of corporate affairs and property sales in Sturdee Road Sustained Land Condo.