Lots of HDB upgraders, or singles and also newlyweds looking for their own 1st family homes may be looking for Westwood Residences EC in Jurong as their choice homes. However, the Total Debt Servicing Ratio (TDSR) framework might just be putting the buyers off as they do not have enough to loan.
Whilst figures shows dropping manufacture activity is actually negatively impacting on the city state’s economy, a drop in estate selling prices can potentially result in a more significant threat, in line with mass media reports as many buyers are not able to purchase their dream home. Indeed, figures show that it is negatively affected as the town state’s economy grew by merely 1.4% in Q3 2014 yearly, while many economic experts surveyed by Reuters have been expecting a 1.8 percent increase.
Westwood Residences EC Buying Sentiments
Developers have previously enjoyed the gains within the residential house price uphill cycle from 2005 and hence many developers are not willing to reduce their prices as they have a strong balance sheet to withstand slow sales. On the other hand, potential purchasers are very aware of the current downtrend in prices plus they refrain from making purchases now, in expectancy of lower selling prices in the in the proximity of term. Hence, this deadlock may cause transactions in Westwood Residences to slow as buyer and seller expectations do not match.
Westwood Residences sales may be hindered by TDSR
Property developers will stay careful and uptight and some may cut prices to sell remaining units. There is a new ruling which states that developers must sell their units within a certain time-frame prior to being fined by the local government bodies. Westwood Residences may also be launched selectively, to evaluate market reaction.
Sluggish Reactions seen in Property Market
General sluggish sentiment will hinder sales quantities in the private housing market, especially of resale homes, said Propnex. The report underlined the authorities’ desire not to unwind the home and property cooling measures during this period, real estate investors have continued to choose a laid back method and less controlled properties abroad as most of the factors having acquiring attention down.