Right now, the property market is somewhat subdued due to restriction in lending by banks.
Properties are seen as highly priced without much upside. Only properties in the lower price point are more saleable resulting in proliferation of affordable housing and smaller condo units including “shoebox” units in the future.
Developers which are recording current year sales are mainly those who have sold the properties a few years ago and recording billings as the properties are constructed. Many property launches have been scaled back or deferred. The secondary market is equally dull.
Against this background, it is time to give the market an injection of excitement and optimism. Some fiscal or tax measures may help. Read more >>>