Bellewaters EC – Anchorvale Crescent EC by Qingjian

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Debt to Service Ratio | Bellewaters EC

Followers of the Total Debt Service Ratio framework are congratulating themselves as sales volume is decreasing and cooling down the exuberant buying spree in property.

The head of CBRE research citing the latest URA figures, showing Singapore’s property price levels for¬†Bellewaters EC are now similar to levels that are almost identical to Q2 2011, just before the first set of Additional Buyers Stamp Duty (ABSD) was enacted.

Bellewaters EC Debt to Service Ratio

In fact, a 1% quarterly, fall fits in precisely with the economic models and it follows along with what previous quarterly numbers have shown a 50% drop off from the 14,948 units sold in 2013 at 7,500, which is where the TDSR was supposed to accomplish in Bellewaters EC.

Most analysts and market watchers believe that the TDSR framework is a success and has done precisely what it was supposed to do bring down sales volume, curb the skyrocketing prices, and ensure that there is not a real estate bubble similar to the one that occurred in the United States in 2008 for Bellewaters.


Current market sentiment is positive and is expected to continue in 2015. Developers of course, will monitor the market closely and pricing of available units is expected to stay at affordable levels, applying the same techniques that have been working so well in the past few quarters for Bellewaters EC.