Home sales drop 65% in Feb 2013

[Sloc]

Some of you guys might find this interesting.

http://sg.finance.yahoo.com/news/singap ... 32246.html

Just a temporary dip due to the cooling measures, or the beginning of a long term trend?

Disclaimer: I don't own any housing in SG and I am not any kind of expert on the local property market . Heck, at the moment I am not even renting; I am staying for free with a relative due to my sorry a$$ being unemployed.

[offshoreoildude]

I think it's temporary only.
Find a job.

[Wd40]

Not only temporary but 2 more reasons:
1)Base effect of high sales in Jan due to upcoming cooling measures
2)LNY

So all in all its just a rubish news

[JR8]

Not only temporary but 2 more reasons:
1)Base effect of high sales in Jan due to upcoming cooling measures
2)LNY

So all in all its just a rubish news

1) Do you mean the government pre-announced months ahead that they were raising stamp duty, and in so doing poured fuel on the fire? That would be surprising IMHO.

2) Can you give comparative stats of the months Jan/Feb/Mar over say each of the past 5 years? Or link them? I looked long and hard for such figures at URA but could find nothing macro; just sales per condo (no HDB), and even then the table didn't show totals!?

If we have any statisticians here, a trend of correlation-coefficient (and/or statistical-significance?) could then be derived to identify any LNY effect.




p.s. Do remember, it only takes a small change in liquidity to act as a catalyst that impacts the market as a whole. If/when you start getting 'forced sellers'... that is when things can get ugly as it creates it's own momentum.

[offshoreoildude]

Not only temporary but 2 more reasons:
1)Base effect of high sales in Jan due to upcoming cooling measures
2)LNY

So all in all its just a rubish news

1) Do you mean the government pre-announced months ahead that they were raising stamp duty, and in so doing poured fuel on the fire? That would be surprising IMHO.

2) Can you give comparative stats of the months Jan/Feb/Mar over say each of the past 5 years? Or link them? I looked long and hard for such figures at URA but could find nothing macro; just sales per condo (no HDB), and even then the table didn't show totals!?

If we have any statisticians here, a trend of correlation-coefficient (and/or statistical-significance?) could then be derived to identify any LNY effect.




p.s. Do remember, it only takes a small change in liquidity to act as a catalyst that impacts the market as a whole. If/when you start getting 'forced sellers'... that is when things can get ugly as it creates it's own momentum.

Sibor has just gone up a few ticks....