There are several Westwood Residences buyers who are seeking for real estate around the MRT stations as property analysts believe condo properties situated near MRT stations has proven that selling prices tend to increase as the general economy starts to pick up. However, you will find indeed a great number of unsold developer units within the jurong region hence numerous buyers are cautious when shopping for a unit in the jurong gardens vicinity. This has resulted a number of home buyers to ask for discounts from the developers in an effort to decrease the selling prices of the units.
Westwood Residences Home Buyers
Westwood Residences developers are currently more than willing to negotiate as real estate property cooling meaures has caused condo prices to drop for 4 continuous quarters. Inside the 3rd quarter of 2014, luxury home purchase prices fell 0.4 % quarter-on-quarter. In the mean time, luxury segment of the property market slow to a crawl with only 1 condominium was sold in Sentosa Cove, further highlighting deficiency of sales in the luxury segment.
Real Estate Activity of Westwood Residences Drop
Despite the fact that the city state dropping development activity in Westwood Residences is actually detrimentally influencing the general country’s economy, a adverse drop in estate price levels could very well cause an increased threat. The city state’s financial system expanded by merely 1.3 percent last year compared to the previous quarter.
Slowing Growth in Real Estate Activities in Jurong
Westwood Residences slow performing status can also be seen by the lower number of units placed in the auction market. Concurrently, the volume of real estate presented coming from mortgagee sale leaped by 12 percent to 48 units using a quarterly basis. Associated with this, there are 6 landed properties, up from five in Q1 2014. The relatively more costly total price associated with landed houses, coupled aided by the application of the Total Debt Servicing Ratio (TDSR) framework, has made it significantly tough for landed house owners to support their home loan repayments.