{"id":100382,"date":"2018-10-23T10:48:31","date_gmt":"2018-10-23T03:48:31","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentiment-among-property-developers-down-on-july-cooling-measures\/"},"modified":"2018-10-23T11:02:59","modified_gmt":"2018-10-23T04:02:59","slug":"sentiment-among-property-developers-down-on-july-cooling-measures","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sentiment-among-property-developers-down-on-july-cooling-measures\/","title":{"rendered":"Sentiment among property developers down on July cooling measures"},"content":{"rendered":"


\nThe latest round of cooling measures were described as unexpected and surprising, as well as extremely disruptive.
\nProperty cooling measures announced in July have dampened sentiment in the property market, with the Real Estate Sentiment Index (RESI) falling sharply to 4.0 in Q3 from 6.6 in Q2, reported the Straits Times.
\nJointly published by the Real Estate Developers\u2019 Association of Singapore (REDAS) and the National University of Singapore\u2019s Department of Real Estate (DRE), the index is derived from a survey of senior executives of REDAS member firms.
\nMore: Govt Cools Property Market With Higher ABSD Rates, Tighter LTV Limits
\nA \u201cnet balance percentage\u201d is used to score key determinants of sentiment within the real estate market.
\nDescribed as \u201cunexpected and surprising\u201d as well as \u201cextremely disruptive\u201d, the measures heavily penalised developers with hefty additional buyer\u2019s stamp duty (ABSD), making land-banking decisions \u201cchallenging and risky\u201d, said survey respondents.
\nABSD was raised by the government as part of its latest round of property cooling measures.
\nIn fact, 90.2 percent of respondents believe that the hike in ABSD rates would seriously affect the collective sales market over the next six months.
\nThe survey noted that residential properties within the Core Central Region (CCR) are more sensitive to the ABSD policy compared to those in the Outside Central Region (OCR).
\nThis comes as new non-landed residential property launches in the CCR \u2013 comprising districts 9, 10, 11, downtown core and Sentosa \u2013 are likely to see more resistance following the higher ABSD rates.
\nLooking ahead, respondents cited the slowing global economy, rising interest rates and inflation, as well as the tightening of financing or liquidity within the debt markets, as the top three potential risks that could adversely affect market sentiment over the next six months.
\n\u201cUncertainties in external economic conditions coupled with the high transaction costs imposed by the new ABSD policies may have double whammy impact on the local residential markets,\u201d said NUS associate professor Sing Tien Foo.
\n\u201cThe sharp declines in the Q3 2018 sentiments reflect bleak outlooks of the property players, especially on the residential markets in the next six to 12 months.\u201d
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Sentiment among property developers down on July cooling measures<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The latest round of cooling measures were described as unexpected and surprising, as well as...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-100382","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-q74","jetpack-related-posts":[{"id":103146,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-remain-pessimistic-about-the-property-market\/","url_meta":{"origin":100382,"position":0},"title":"Singapore developers remain pessimistic about the property market","date":"January 21, 2019","format":false,"excerpt":"\r Developers remain cautious amid weakening market conditions expected in 2019. Singapore developers remain pessimistic over the state of the property market, even as the Real Estate Sentiment Index (RESI) posted a marginal uptick during the fourth quarter of 2018. Jointly developed by the Real Estate Developers\u2019 Association of Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-more-upbeat-but-worry-over-possible-curbs\/","url_meta":{"origin":100382,"position":1},"title":"Developers more upbeat but worry over possible curbs","date":"October 26, 2017","format":false,"excerpt":"\r Home builders here have become more bullish, but they fear that the improving market conditions would result in more property curbs from the authorities, reported the Straits Times. In fact, the Real Estate Sentiment Index (RESI) show that property developers\u2019 general sentiment has improved. They also have better views\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-property-curbs-to-erode-market-confidence-says-redas\/","url_meta":{"origin":100382,"position":2},"title":"New property curbs to erode market confidence, says REDAS","date":"July 18, 2018","format":false,"excerpt":"\r The new property curbs are a \u201cbig setback\u201d for Singapore\u2019s property sector, according to the Real Estate Developers\u2019 Association of Singapore (REDAS) in a report by the Business Times. These new cooling measures will impact the confidence of property developers, investors and home buyers, said REDAS President Augustine Tan.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97016,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-developers-think-that-private-condo-prices-will-fall\/","url_meta":{"origin":100382,"position":3},"title":"More developers think that private condo prices will fall","date":"August 31, 2018","format":false,"excerpt":"\r There was a reversal of market sentiment among Singapore home builders after the new property cooling measures were introduced on 6 July, reported the Business Times. In fact, the Real Estate Sentiment Index (RESI) compiled by the National University of Singapore (NUS) and the Real Estate Developers\u2019 Association of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20908,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-sentiment-continues-to-hurt-spore-property-market\/","url_meta":{"origin":100382,"position":4},"title":"Weak sentiment continues to hurt S\u2019pore property market","date":"July 13, 2016","format":false,"excerpt":"\r Aerial view of high-rise apartment buildings in Singapore. Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes weak market sentiment continues to weigh down on Singapore\u2019s property market, reported The Straits Times. He noted that since the government rolled out a slew of property cooling measures from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93453,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-rationale-for-new-property-cooling-measures-says-redas\/","url_meta":{"origin":100382,"position":5},"title":"No rationale for new property cooling measures, says REDAS","date":"July 9, 2018","format":false,"excerpt":"\r The Real Estate Developers\u2019 Association of Singapore (REDAS) sees no rationale in imposing new property cooling measures considering that the Singapore property market is still in the \u201cearly stages of a recovery and the recovery is in line with economic fundamentals\u201d, reported Channel News Asia. Among the new curbs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100382"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=100382"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/100382\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=100382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=100382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=100382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}