{"id":102762,"date":"2019-01-08T10:24:13","date_gmt":"2019-01-08T03:24:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-expected-to-slump-by-20-in-2019-dbs\/"},"modified":"2019-01-08T11:10:18","modified_gmt":"2019-01-08T04:10:18","slug":"new-private-home-sales-expected-to-slump-by-20-in-2019-dbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-expected-to-slump-by-20-in-2019-dbs\/","title":{"rendered":"New private home sales expected to slump by 20% in 2019: DBS"},"content":{"rendered":"


\nProperty cooling measures introduced last year have contributed to a slowdown in sales momentum.
\nNew private home sales in Singapore is forecasted to decline by about 20 percent year-on-year to 7,500 to 8,500 units for the whole of 2019, while prices of such properties could drop by up to 3.0 percent, according to a recent report from DBS Group Research.
\nFor 2018, the transaction volume is expected to hit 10,000 to 11,000 units, with the 11-month tally already reaching around 9,300 units.
\nMore: Private Home Prices Rose 7.9% In 2018
\nThe research house noted that since the new cooling measures were introduced in July 2018, primary sales momentum has moderated to 500 to 800 units per month, which it believes to be the \u201cnew normal\u201d going into 2019.
\nWorsening the situation are the new rules on the average unit size for non-landed housing projects outside Singapore\u2019s central region and the nearly 40,000 units in the pipeline slated for launch despite a slowing market.
\nMoreover, DBS thinks that displaced en bloc buyers are unlikely to significantly increase private home sales for the whole of 2019.
\n\u201cMarket expectations of a boost in sales volumes from displaced en bloc households up to middle of 2018 might not materialise. Assuming that these homeowners are paid nine months after the close of en bloc tenders, we estimate that only c.11 percent of the total 8,500 en bloc households will receive their monies in H1 2019.
\n\u201cTherefore, we believe that most of the buying from these displaced households will already be done before that (period) and will not be a significant boost to sales volumes in 2019.\u201d
\nFurthermore, although the demand for replacement units from successful en bloc sellers is expected to be robust in the near term, such demand is not sustainable for the long term, added DBS.
\nGet more details on the property market outlook for 2019 here
\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…New private home sales expected to slump by 20% in 2019: DBS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Property cooling measures introduced last year have contributed to a slowdown in sales momentum. New...<\/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-102762","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-qJs","jetpack-related-posts":[{"id":78423,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/keppel-land-annual-home-sales-down-4-to-5480-units\/","url_meta":{"origin":102762,"position":0},"title":"Keppel Land annual home sales down 4% to 5,480 units","date":"January 30, 2018","format":false,"excerpt":"\r Keppel Land\u2019s total homes sales slid by four percent to 5,480 units last year on an annual basis due to cooling measures in China and the timing of development launches in Vietnam, reported the Singapore Business Review. 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Nevertheless, the large number of homes purchased a few hours before the curbs took effect will give a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":63042,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-prices-to-increase-by-10\/","url_meta":{"origin":102762,"position":2},"title":"Property prices to increase by 10%","date":"August 8, 2017","format":false,"excerpt":"\r \u00a0 With property sales surging 46 percent year-on-year in 1H 2017, analysts believe the property market is headed for an inflection this year, reported Singapore Business Review citing a DBS Group Research report. 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