{"id":100494,"date":"2018-10-25T11:18:28","date_gmt":"2018-10-25T04:18:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-plunge-63-in-q3\/"},"modified":"2018-10-25T12:03:05","modified_gmt":"2018-10-25T05:03:05","slug":"residential-investment-sales-plunge-63-in-q3","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-plunge-63-in-q3\/","title":{"rendered":"Residential investment sales plunge 63% in Q3"},"content":{"rendered":"


\nInvestment sales in the residential sector plunged to $2.2 billion due to a lackluster en bloc market.
\nOverall property investment sales in Singapore declined from nearly $10 billion in the previous quarter to $6.5 billion in Q3 2018 following the introduction of new property cooling measures in July, according to a new report from Edmund Tie & Co.
\n\u201cThe fall in investment sales was largely led by the residential sector, with investment sales decreasing by 63.2 percent quarter-on-quarter to $2.2 billion, arising from a lackluster en bloc market.\u201d
\nMore:\u00a0Property Investment Sales To Hit $46 Billion In 2018
\nThe residential segment accounted for the largest percentage of property investment sales, but the 34.4 percent proportion is lower than the second quarter\u2019s 61.2 percent.
\nOn 6 July, the government increased the Additional Buyer\u2019s Stamp Duty (ABSD) for companies. There is also a non-remittable ABSD of 5.0 percent for property developers, making them more cautious and hesitant in their land acquisitions. This dealt a blow to the collective sales market.
\nNonetheless, there were still some en bloc deals transacted after the introduction of the new measures, among them Phoenix Heights in Bukit Panjang. The 99-year leasehold project changed hands for $33.1 million, which works out to $553.01 psf per plot ratio.
\nMoreover, sales of government residential sites edged up 1.7 percent to $1.7 billion in Q3 2018 on a quarterly basis. Edmund Tie noted that more sites with lower prices were sold in the third quarter compared to the quarter before, indicating a weaker risk appetite among property developers.
\nLooking ahead, Edmund Tie & Co expects residential investment sales to decline further as acquisition costs of en bloc sites have increased significantly due to new property curbs and the hike in development charges.
\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…Residential investment sales plunge 63% in Q3<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investment sales in the residential sector plunged to $2.2 billion due to a lackluster en...<\/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-100494","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-q8S","jetpack-related-posts":[{"id":111686,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-surge-90-1-in-q3\/","url_meta":{"origin":100494,"position":0},"title":"Residential investment sales surge 90.1% in Q3","date":"October 18, 2019","format":false,"excerpt":"\r However, residential investment sales for this year is expected to fall 55 percent from last year\u2019s record level, due to a weaker en bloc market.\u00a0 Singapore saw residential investment sales increase 90.1 percent quarter-on-quarter and 4.7 percent year-on-year to $3.1 billion in the third quarter of 2019, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28425,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-sector-dominates-property-investment-sales-in-q3\/","url_meta":{"origin":100494,"position":1},"title":"Residential sector dominates property investment sales in Q3","date":"October 4, 2016","format":false,"excerpt":"\r Landed home sales, especially large bungalow transactions, contributed significantly to property investment deals last quarter, research shows. 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