Top criteria in influencing homes demand

The 2 top criteria in influencing demand for homes is Price and Location

1. Projects that are reasonably priced sell out quickly. The Optima at Tanah Merah was all sold out in 3 days at time of launch.

2. Locations with easy public access and amenities but on condition that these areas were not overbought or saturated by multiple launches in the past.

Savills Report - 'According to a recent Singapore Residential Sales Briefing by Savills Research, affordability and location were the only two factors which significantly helped move residential sales in Q3.

In July, new private home sales dropped to 482 as developers withheld new housing stock and buyers digested the new total debt servicing ratio (TDSR) framework.

Despite a rebound in August and September, sales volumes in the third quarter declined by 46.5% quarter-on-quarter and 58.9% year-on-year,).

In Q3/2013, the private residential property price index increased a modest 0.4% QoQ. The average high-end non-landed home price tracked by Savills slipped by 0.3% QoQ, the second consecutive quarterly decline.'