Tuesday, October 18, 2011

HDB upgraders set pace in private property market

SINGAPORE: The private residential market saw a rebound in September.

Figures released by the Urban Redevelopment Authority (URA) on Monday showed 2,064 units, including executive condominiums (ECs), were transacted.

This is the highest number of monthly transactions this year and a significant 26 per cent increase from August's 1,638 units.

Treasure Trove, a development in Punggol, accounted for about 40 per cent of the transactions with more than 680 units sold.

PropNex Realty said the homebuyers are mainly HDB upgraders, attracted to the pricing and the proximity of the development to the Punggol MRT.

It said the revision of income ceiling had prompted many to purchase ECs.

Source : MediaCorp Pte Ltd

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