Experts are predicting a 3 to 5% drop in new private property prices in the coming year. With the volume of unsold new housing stock increasing prices for these properties could fall even further. It is a choice property developers for Tang Skyline Alexandra View Condo would rather not be faced with, keeping homes at full price and not selling many, or reducing prices markedly and drastically cutting profits. So said Mr Wong of Orange Tee.
Property developers have to a certain extent have had to lower prices already, as the total of unsold properties has been reduced notably over the last year (falling from 24 % to 18 %). It means that the prices that they have charged per square foot (psf) have fallen notably for Tang Group Redhill Alexandra View Condo.
Tang Skyline Alexandra View Condo
Prices have had to be lowered right across Singapore, with some developments having to have prices cut more than others. Whilst Tang Group Condo keeps money coming in to the real estate firms it is less than expected and has greatly reduced profit margins. This trend is bad for the construction sector as real estate companies will want to avoid investing in new building projects until profit margins improve once again.
Properties have been selling, with Tang Group Redhill MRT Condo developer, Frasers Centrepoint selling 760 units, especially at North Park Residences. Also developer MCC Land has sold 354 units, a 55% increase over the previous year.
Tang Group Alexandra View Condo
Yet these stronger sales are in selected Tang Skyline Redhill Condo housing projects, which managed to be more appealing to prospective home buyers. People seeking to buy property have become more selective in recent times and often go for the properties with the most discounted prices. At the moment the private property in Singapore is most definitely a buyers market.
In the next year it is predicted that sales of private property will grow slowly, but at a rate that will be too low to provide any kind of relief to the depressed conditions within the building and construction sector near redhill mrt station. It is also highly likely that any growth in the sales of private property will be mainly achieved through the lowering of home prices. If that is the case then real estate companies and property developers will be making limited profits.
Prices for Alexandra View Condo
Private house prices remain lower than they were two years ago, having dropped by an average of 8 % since 2013. Financial experts are not expecting any price rises next year, if anything they expect prices to fall a little bit further.