SG Property: Mkt watchers note that while mass mkt condo prices have been racing ahead, moderation may be around the corner.The NUS SG Residential Price Index (SRPI) +14.1% in Apr yoy for the Non-Central Region, while index for the Central Region, rose at a slower pace of 5.6% over same period. Ppty industry players generally do not expect mass-mkt condo prices to keep surging at the same pace…..
Slight pullback could be due to reports this mth that the govt announced that mthly household income cap for those buying new BTO flats from HDB could go up from $8,000 to $10,000 which could siphon off some demand from the HDB resale market. Analysts also widely expect an increase in the income cap for those buying new Design, Build and Sell Scheme flats and EC’s from $10,000 currently to say, $12,000, which could further siphon off some demand from the 99-year mass-market private condo seg.
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