
Here's how residential sector was severely hurt by debt servicing framework
Home deals crashed 56.6%.
According to OSK, following the introduction of the total debt servicing framework (TDSR) in late June, demand in all segments of the property market slumped in July.
Here's more:
Transactions of Strata commercial and industrial units fell 31% an 20.9% respectively from June. However, the biggest impact is on residentail deals dropping by 56.6% .
Private home sales were impacted by a 73.3% slide in new sales from a June high base of 1806 to 482 in July. In addition, the number of private home that changed hands in the resale market in July also fell by 14.3%.
Subsale transactions in the secondary market deals in uncompleted projects eased 15.6%. No of Strata units developers sold in the commercial segment dropped 57.6%.
However resales were steadier with a decline of only 2 deals from June and sub sales remained unchanged.