Chart of the Day: Luxury properties double whammied with ABSD and dismal property market
The segment moved only 7.4% of total December sales.
Singapore’s property market has been painfully lifeless and cheerless in 2014.
A report by OSK-DMG reveals that the high-end segment with units fetching more than $2,000 psf (median price) moved only 30 units or 7.4% of total December sales.
OSK-DMG says that given the challenging property market, coupled with the punitive 15% ABSD for foreigners (typical buyers for high-end properties), the high-end segment is likely to continue its downtrend into 2015.