{"id":101756,"date":"2018-11-28T12:52:04","date_gmt":"2018-11-28T05:52:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-dampened-buying-sentiment-in-q3-report\/"},"modified":"2018-11-28T13:02:48","modified_gmt":"2018-11-28T06:02:48","slug":"cooling-measures-dampened-buying-sentiment-in-q3-report","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-dampened-buying-sentiment-in-q3-report\/","title":{"rendered":"Cooling measures dampened buying sentiment in Q3: report"},"content":{"rendered":"


\nEn bloc sales in Singapore have come to a halt while residential sales have also suffered.
\nThe government\u2019s latest round of property cooling measures dampened buying sentiment in the private residential market during the third quarter of 2018, said Edmund Tie & Company (ET&Co) in a report.
\nThis comes as en bloc sales came to a halt while residential sales was lacklustre due to a curb in investor demand.
\nMore: MAS: Exercise Caution In Taking Up Housing Loans
\nIn Q3 2018, private residential sales volume fell 21 percent quarter-on-quarter to 5,569 units.
\nDespite the drop in total sales volume, new sales jumped 28.6 percent to 2,960 units as buyers frantically snapped up homes on the eve of the introduction of new cooling measures (5 July) to avoid additional costs. In fact, 960 units were moved in the primary market on that day, accounting for 32.8 percent of the new sales for the period under review.
\nET&Co noted that while no significant price discounts were offered for new launches, developers posted relatively healthy take-up rates as they focused their marketing efforts on the projects\u2019 unique attributes instead.
\nThe Tre Ver, for instance, moved 191 of the 200 units launched in August at an average selling price of about $1,550 psf.
\n\u201cDesigned by award-winning WOHA Architects, the healthy take-up rate of The Tre Ver can be attributed to buyers\u2019 preference for developments that are built by renowned developers, emphasise greenery and sustainability, as well as being close to park connectors,\u201d the report said.
\nSales in the secondary market, on the other hand, dropped 45.1 percent quarter-on-quarter to 2,609 units.
\n\u201cThe movement in the secondary market was contrary to that of the primary market, as buyers and sellers in the secondary market did not have enough time to respond before the cooling measures took effect.\u201d
\nLooking ahead, ET&Co expects demand for residential properties to come from first-time buyers as well as displaced owners on the lookout for replacement homes, who are less affected by the new measures.
\nIt also expects the recent revision of guidelines for private residential developments to result in a reduction of shoebox units.
\n\u201cThis further affects the affordability of residential units as the quantum of home purchases increase.\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…Cooling measures dampened buying sentiment in Q3: report<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

En bloc sales in Singapore have come to a halt while residential sales have also...<\/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-101756","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-qte","jetpack-related-posts":[{"id":101984,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/condo-purchases-by-foreigners-fell-sharply-in-q3\/","url_meta":{"origin":101756,"position":0},"title":"Condo purchases by foreigners fell sharply in Q3","date":"December 4, 2018","format":false,"excerpt":"\r Aerial view of luxury apartments in Singapore. 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