Good economy and low interest rates keeping singapore mid property market going

Low interest rates and a healthy economic outlook are expected to keep Singapore’s mass market residential property market resilient in the coming months, particularly for developments in the Outside Central Region (OCR), it is claimed.

Last year, mass market homes, excluding executive condominiums, hit a record, selling 65% or 10,374 units of the total number of new private homes in the OCR, according to figures from Urban Redevelopment Authority’s (URA).

Comparatively, OCR home sales reached 7,357 units in 2010, accounting for a 45% share, while sales hit 6,060 units or 41% in 2009.

According to the URA, the Core Central Region (CCR) comprises the Downtown Core, Sentosa and districts 9, 10 and 11. On the other hand, the Rest of Central Region (RCR) covers central areas except for those under the CCR.

Source: PropertyWire.com