{"id":102170,"date":"2018-12-11T13:38:51","date_gmt":"2018-12-11T06:38:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-market-forecasted-to-standstill-next-year\/"},"modified":"2018-12-11T14:02:47","modified_gmt":"2018-12-11T07:02:47","slug":"singapore-property-market-forecasted-to-standstill-next-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-market-forecasted-to-standstill-next-year\/","title":{"rendered":"Singapore property market forecasted to \u2018standstill\u2019 next year"},"content":{"rendered":"


\nPrivate home prices in Singapore could remain flat or decline by up to three percent next year.
\nSingapore home prices that are expected to increase by as much as 10 percent this year could remain flat next year or decline by up to three percent, according to estimates from property brokers compiled by Bloomberg.
\nHome sales, which fell behind 2017 levels this year, are also expected to reach below that mark next year.
\nMore: Govt Trims Land Sales Amid Large Supply, Softer Demand
\nThe pace of residential property price hikes is slowing following the government\u2019s introduction of new property cooling measures in July. The curbs were prompted after prices climbed about seven percent during the first six months of 2018, on the back of aggressive land bids from developers and en bloc sales.
\nNew rules limiting the number of \u201cshoe-box sized\u201d apartments that developers can build as well as anti-money laundering safeguards restricting builders, also pose further constrictions.
\n\u201cThe market has come to a standstill,\u201d said Knight Frank\u2019s Singapore research head Lee Nai Jia. \u201cThe government is unlikely to introduce additional curbs or rollbacks as the market is stabilising.\u201d
\nThe government\u2019s constant tweaking of rules and taxes related to the property market is a concern for home builders, said Smartkarma analyst Tan Kok Keong. It could raise developers\u2019 cost while reducing the city-state\u2019s appeal for international players.
\nThe government, however, believes that it needs to intervene to prevent a bubble from forming. In fact, private home prices may have increased by up to 15 percent this year had it not acted, said National Development Minister Lawrence Wong in a speech last month.
\n\u201cLet me be very clear that the government cannot and will not take a hands-off attitude to the property cycle\u2026So there should not be any surprise when we intervene in the market, because that is our approach and attitude.\u201d
\nIn its annual financial stability review in November, the Monetary Authority of Singapore noted that a sharp property price hike, if left unchecked, may have run ahead of economic fundamentals while increasing the risk of destabilising correction later.
\n\u201cHad the government not introduced the additional curbs, this bull run in the residential market would have continued for three years,\u201d said ZACD Group executive director Nicholas Mak. In a best case scenario, prices are expected to remain flat next year, although declines of up to three percent may also occur, he said.
\nDevelopers\u2019 aggressive land bidding are also forecasted to drop in 2019. CBRE revealed that en bloc sales totalled $10.8 billion from 37 transactions so far this year. CBRE Singapore research head Desmond Sim expects that to decline by about one-tenth in 2019.
\n\u201cGiven the sizable supply pipeline from public land tenders and private collective sale sites accumulated before the curbs, developers are likely to be more cautious,\u201d said Colliers International Singapore research head Tricia Song. As such, developers are expected to \u201cpace out their launches to ensure the market remains sustainable in the coming year\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…Singapore property market forecasted to \u2018standstill\u2019 next year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Private home prices in Singapore could remain flat or decline by up to three percent...<\/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-102170","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-qzU","jetpack-related-posts":[{"id":81660,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expected-home-price-hike-driven-by-record-land-sales\/","url_meta":{"origin":102170,"position":0},"title":"Expected home price hike driven by record land sales","date":"March 2, 2018","format":false,"excerpt":"\r Record bids for land sites in Singapore are expected to drive future prices of private homes. Private home prices in Singapore are anticipated to rise further in the future on the back of record sums offered by developers for government land and en bloc sites, according to Knight Frank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-predictions-for-2018\/","url_meta":{"origin":102170,"position":1},"title":"Property predictions for 2018","date":"December 21, 2017","format":false,"excerpt":"\r Private housing prices are likely to rise further in 2018, say analysts. Experts discuss the outlook for the residential market in Singapore. By Romesh Navaratnarajah With around 10,000 completed private homes and up to 22 major new launches expected next year, 2018 is shaping up as the year to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":125906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-rise-at-slower-pace-in-q1-and-more\/","url_meta":{"origin":102170,"position":2},"title":"Private home prices, HDB resale prices rise at slower pace in Q1 and more","date":"April 25, 2022","format":false,"excerpt":"\r 19th April to 25th April 2022 Despite the property cooling measures, private home prices continued to increase in the first quarter of 2022, albeit at a much slower pace of 0.7%. HDB resale prices also increased at a slower pace of 2.4% in Q1 2022. \u00a0 1) Private home\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/04\/singapore-ann-siang-hill.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":117472,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-drop-1-1-in-q2\/","url_meta":{"origin":102170,"position":3},"title":"Singapore private home prices drop 1.1% in Q2","date":"July 1, 2020","format":false,"excerpt":"\r Flash estimate\u00a0from the Urban Redevelopment Authority (URA) showed that the private residential property index fell 1.1% in Q2 2020.\u00a0 The COVID-19 pandemic has continued to affect the Singapore housing market as private home prices fell for a second consecutive quarter. 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