Why more Singapore homebuyers are decoupling in their child's name

This boosted demand and prices.

According to Colliers International, URA’s flash estimate for the all private residential property price index in 2Q 2013 showed that private residential home prices climbed at a faster rate of 0.8% quarter-on-quarter (QoQ) compared to the 0.6% increase in 1Q 2013. Prices reached yet another new peak after recovering 61.2% from the global financial crisis in 2Q 2009.

The price increase was mainly powered by the stronger price growth for mass-market in the Outside Central Region (OCR). Prices of non-landed homes in the OCR increased 3.0% according to the flash estimate, rising twice as fast as the 1.4% recorded in 1Q 2013.

Here's more from Colliers International:

For non-landed homes in the Rest of Central Region (RCR), prices maintained the same rate of increase, climbing 0.2% QoQ. Prices for non-landed private homes in the Core Central Region (CCR) buckled, dipping 0.2% QoQ from an all-time after climbing 0.6% in 1Q 2013.

Sustained popularity and confidence in mass-market homes, particularly those with good location attributes, proved to be popular with homebuyers, specifically among first-time buyers and HDB flat upgraders. In addition, anecdotal evidence also suggests that more homebuyers are “decoupling” or purchasing their second properties in their child’s name to avoid the payment of Additional Buyer’s Stamp Duty (ABSD). These have provided the support for demand and prices to strengthen further.

The final statistics on prices registered for 2Q 2013 may come in higher than the flash estimate, owing to robust demand for suburban homes like J Gateway, which was almost sold out at benchmark prices for the Jurong area.

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