Singapore's residential investment sales value shrunk to $862.4m in 4Q13
That's a whopping 56.8% crash.
According to Savills, the debilitating effects of the additional buyer’s stamp duty combined with the total debt servicing ratio framework continued to weigh on the residential segment. Meanwhile, only two residential sites were awarded through government tenders. These factors led to the investment sales value shrinking for the second consecutive quarter, from S$2.0 billion in Q3/2013 to S$862.4 million in the last quarter of 2013. The quarterly decline is 56.8% in Q4, higher than the negative 41.0% recorded in Q3.