The underlying factor in making property purchase in today’s market is overall quantum and affordability. Since the LTV reduced to 75-percent in July 2018 and stamp duty increased to 4-percent for property above $1million, buyers were cautious of the overall price tag of the property. During the circuit breaker, low to mid-tier range properties sales are strong as buyers can afford the initial downpayment and the subsequent monthly mortgage. Mayfair Modern 1-bedroom price tag is still below $1-million which makes it attractive to own a piece of property in the prime Bukit Timah district.
Source: The Business Times
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