The price gap between suburban Singapore homes and central ones is widening, according to a recent Knight Frank study.
This is because the Total Debt Servicing Ratio has put a pressure on prospective home buyers, particularly those interested in an abode out of the central region, the study found. The cooling measure puts a reasonable limit on the size of an individual’s home loan.
In 2014, prices of condominiums in the Core Central Region (CCR) were 83.2 per cent higher than Outside Central Region (OCR) ones, an increase from 67.8 per cent the year before. The trend extends to the resale market, said Ms Alice Tan, Knight Frank Head of Research and Consultancy.
There, the price difference between properties in the CCR and OCR increased from 90.1 per cent in 2014 to 94.1 per cent last year.
Check out The Straits Times for the full report.
Looking to sell your property?
Whether your HDB apartment is reaching the end of its Minimum Occupation Period (MOP) or your condo has crossed its Seller Stamp Duty (SSD) window, it is always good to know how much you can potentially gain if you were to list and sell your property. Not only that, you’ll also need to know whether your gains would allow you to right-size to the dream home in the neighbourhood you and your family have been eyeing.
One easy way is to send us a request for a credible and trusted property consultant to reach out to you.
Alternatively, you can jump onto 99.co’s Property Value Tool to get an estimate for free.
If you’re looking for your dream home, be it as a first-time or seasoned homebuyer or seller – say, to upgrade or right-size – you will find it on Singapore’s fastest-growing property portal 99.co.
Meanwhile, if you have an interesting property-related story to share with us, drop us a message here — and we’ll review it and get back to you.
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