General Weakened sentiment on the property outlook in addition to the prospect of further more price drops in Kingsford Waterbay will hamper transaction amounts within the private housing market, especially of resale homes in the city fringe sector. The TDSR property measures has caused buyers to be more uptight on buying properties due to restriction on loans by the local government authority in an attempt to reduce the rise in property prices.
Kingsford Waterbay Buying Sentiment
The report underlined the authorities’ desire not to loosen up the house and property cooling measures especially the Total Debt to Service ratio (TDSR) right now which in turn caused buyers continuing to undertake a wait-and-see approach for buying Kingsford Waterbay and less controlled properties abroad as some of the explanations keeping acquiring appeal down on these properties.
Restrictions on Waterbay Condo
Looking at resale market other than new launches, even though units happen to be priced more reasonably, you’ll find property sellers expecting to hold off until such time as current market conditions are more favorable for them to sell in order to cash in their profit for their units in Kingsford Waterbay condo. Alternatively, need for new properties is expected to hold up far better as developers have more resources to showcase projects strategically and creatively to attract buyers. Also, their balance sheet is strong due to the profits earned from other property sales in the last property run up cycle. Basically, their balance sheet is strong to withstand a lower profit.
More looking to hold back Purchases
Buyers of properties are more concerned about the rental yield for units in Upper Serangoon such as Kingsford Waterbay as that they are able to get and many property analyst expects the rental prices to lower an extra 5 to 6 percent by year end which push away potential buyers. Nicholas Mak, Research Head at SLP International anticipates a further 4-6 percent drop. For the longer term. Property agents attribute the situation to insufficient demand due to a shortage of renters as the city state cut back on immigration and more to automated machine labour. The reality is, landlords have actually cut down rents to be able to contend for renters, in which figures have been restricted because of foreign labour curbs.