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.
Prices in prime central London continue to rise despite the recent increase in interest rates. This unexpected trend suggests a resilient property market, defying the effect of higher borrowing costs. Experts attribute this to the enduring appeal of the city as a safe haven for investment, particularly for overseas buyers. With limited supply and an insatiable demand, prices are expected to maintain their upward trajectory in the near future, firmly establishing London’s status as a prime real estate market.
In an unfortunate turn of events, it has been announced that a significant number of residential property owners will have to bear the burden of higher taxes in the coming year. Furthermore, the highly anticipated launch of Tenet EC saw a staggering 72% of units sold on its very first day. Stay tuned for more updates on these developments and their implications.