The introduction of new regulations has brought a cautious response to the Jalan Tembusu Government Land Sales (GLS) project. Analysts are taking a careful approach due to uncertainties surrounding the property market. While these regulations aim to curb excessive speculation, developers and investors are treading carefully amidst the evolving landscape of the industry. The outcome of this project will undoubtedly be influenced by these new measures, adding more anticipation to an already cautious atmosphere.
Despite the increasing interest rates and financing costs, the shophouse market has recently experienced a cooling effect. This can be attributed to potential buyers being deterred by the higher costs associated with these transactions. As a result, the transaction volume for shophouses has noticeably subsided, indicating a significant impact on the overall real estate market.