Islandwide property investment sales dipped 8.4% in Q1

Transaction volume totalled $3.63b.

Singapore's property investment market registered an 8.4% year-on-year decline in terms of sales value in the first quarter.

A report by Savills revealed that transaction volume totalled $3.63b during the quarter, as cooling measures continue to keep a lid on property investment sentiment.

“The market environment remained tough, as there has been no sign that the government will consider relaxing some property cooling measures, such as those relating to the additional buyer’s stamp duty (ABSD) and total debt servicing ratio (TDSR),” stated the report.

The effects of the cooling measures are exacerbated by high capital values, yield compression and recent spikes in interest rates.