{"id":101572,"date":"2018-11-23T16:18:05","date_gmt":"2018-11-23T09:18:05","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-q3-economic-growth-disappoints\/"},"modified":"2018-11-23T17:02:53","modified_gmt":"2018-11-23T10:02:53","slug":"singapore-q3-economic-growth-disappoints","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-q3-economic-growth-disappoints\/","title":{"rendered":"Singapore Q3 economic growth disappoints"},"content":{"rendered":"


\nThere are concerns that the recent property cooling measures could weigh down on the real estate and construction sectors.
\nSingapore\u2019s gross domestic product (GDP) rose by 3.0 percent quarter-on-quarter on a seasonally-adjusted and annualised basis in Q3 2018, surpassing the previous quarter\u2019s increase of 1.0 percent, reported the Business Times.
\nOn an annual basis, the city-state\u2019s economy rose by 2.2 percent.
\nHowever, both the quarterly and annual growth fell below forecasts of 4.2 percent and 2.4 percent respectively, according to median projections by 11 experts in a Reuters poll.
\nIn particular, Singapore\u2019s construction industry dipped 2.3 percent on a quarterly basis due to softer public-sector construction activities. The marginal increase is also slower than the 4.2 percent quarter-on-quarter gain in Q2 2018.
\n\u201cThere are concerns regarding the risk aversion and faster-than-expected hikes in interest rates causing excessive volatilities in the financial markets, and the property cooling measures weighing down on the real estate and construction sectors in the coming quarters,\u201d said DBS economist Irvin Seah.
\nLooking ahead, the Ministry of Trade and Industry (MTI) expects Singapore\u2019s economy to expand by 3.0 to 3.5 percent for the whole of 2018. But the agency thinks that GDP growth could weaken to 1.5 to 3.5 percent next year. This is due to declining global demand for electronics and the ongoing US-China trade war.
\n\u201cSingapore\u2019s economy is feeling the tremors from a slowing global economy and disruptions to global trade,\u201d noted Maybank Kim Eng economists Lee Ju Ye and Chua Hak Bin.
\nNonetheless, MTI believes that construction activity will likely recover by 2019, as works for contracts awarded since the second half of 2017 will likely start in the next few quarters.
\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…Singapore Q3 economic growth disappoints<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There are concerns that the recent property cooling measures could weigh down on the real...<\/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-101572","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-qqg","jetpack-related-posts":[{"id":111596,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-gdp-grew-0-1-in-q3\/","url_meta":{"origin":101572,"position":0},"title":"Singapore GDP grew 0.1% in Q3","date":"October 15, 2019","format":false,"excerpt":"\r This means Singapore narrowly avoided a technical recession, which is defined as two consecutive quarters of economic decline. The Singapore economy grew 0.1 percent on a year-on-year basis in the third quarter of 2019, which is the same pace of growth seen in the previous quarter, showed advanced estimates\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72745,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/spore-economy-to-grow-up-to-3-5-in-2017\/","url_meta":{"origin":101572,"position":1},"title":"S\u2019pore economy to grow up to 3.5% in 2017","date":"November 24, 2017","format":false,"excerpt":"\r Singapore\u2019s gross domestic product (GDP) is forecasted to rise between three percent and 3.5 percent for the whole of 2017, while next year could see a growth of 1.5 percent to 3.5 percent, said the Ministry of Trade and Industry (MTI) on Thursday, 23 November 2017. For the first\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113825,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-2-7-in-2019\/","url_meta":{"origin":101572,"position":2},"title":"Private home prices up 2.7% in 2019","date":"January 23, 2020","format":false,"excerpt":"\r On a quarterly basis, private home prices climbed 0.5% in the fourth quarter of 2019, continuing the 1.3% increase seen in the previous quarter. The private homes prices in Singapore rose 2.7% in 2019, down from the 7.9% hike previously registered in 2018, according to the latest private home\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-see-marginal-rise-in-q3\/","url_meta":{"origin":101572,"position":3},"title":"Luxury home prices see marginal rise in Q3","date":"November 3, 2016","format":false,"excerpt":"\r Luxury homes here have seen only minimal price growth in the last quarter. Singapore\u2019s luxury home prices grew by only 0.5 percent quarter-on-quarter in Q3 2016, according to a JLL report. The city-state joins 17 other cities tracked by JLL, which saw their rate of price growth decline from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-unsold-units-at-seven-year-low-in-q3-2017\/","url_meta":{"origin":101572,"position":4},"title":"Singapore\u2019s unsold units at seven-year low in Q3 2017","date":"January 9, 2018","format":false,"excerpt":"\r With the improved buyer sentiment over the recent months, unsold home inventory in Singapore fell to a seven-year low at 16,031 units during the third quarter of 2017, reported Singapore Business Review citing Jefferies Singapore Limited. Total transactions volumes, on the other hand, rose 54 percent year-on-year in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112546,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mti-sees-gdp-growth-forcast-in-2019-and-2020\/","url_meta":{"origin":101572,"position":5},"title":"MTI sees GDP growth forcast in 2019 and 2020","date":"November 22, 2019","format":false,"excerpt":"\r Singapore\u2019s economy is expected to have a growth of \u201c0.5 to 2.5%\u201d in 2020. The Ministry of Trade and Industry (MTI) expects that the Singapore economy to grow by 0.5 to 1.0% this year and by 0.5 to 2.5%\u201d in 2020, according to a report released on Thursday (Nov\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\/101572"}],"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=101572"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/101572\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=101572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=101572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=101572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}