{"id":105969,"date":"2019-04-11T13:45:51","date_gmt":"2019-04-11T06:45:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-draft-master-plan-to-spark-more-home-sales\/"},"modified":"2019-04-11T14:06:47","modified_gmt":"2019-04-11T07:06:47","slug":"ura-draft-master-plan-to-spark-more-home-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ura-draft-master-plan-to-spark-more-home-sales\/","title":{"rendered":"URA Draft Master Plan to spark more home sales"},"content":{"rendered":"


\nPlans for the Greater Southern Waterfront will offer much optimism in the future outlook of residential properties in the vicinity.
\nProperty consultancy Knight Frank expects residential sales to remain moderate for the rest of the year, on the back of the growing mismatch of price expectations among buyers and sellers.
\nIt noted that sellers in the secondary market were placed under greater pressure to reduce their asking prices as the URA Private Property Price Index fell during the first quarter of 2019.
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\nThe decline in URA price indices was more reflective of the prices of completed homes transacted in the secondary market, given that prices of new projects were holding up during the first quarter, it said.
\nIn fact, the NUS Singapore Residential Price Index, which tracks prices of completed non-landed private homes and a proxy for the secondary market, eased 0.5 percent month-to-month after registering a 0.2 percent dip in January.
\nMoreover, secondary sale transactions fell to 1,623 units in Q1 2019 from 2,165 units in the previous quarter.
\nAlthough not all property transactions for Q1 2019 have been recorded, Knight Frank does not expect the secondary sale transaction volume to exceed the previous quarter\u2019s record.
\nOn the other hand, new sales declined more moderately than secondary sales, contracting by 7.4 percent quarter-on-quarter to 1,681 units in Q1 2019.
\nNonetheless, Knight Frank expects the recently announced Draft Master Plan 2019 to encourage more sales within the areas that have been earmarked for future development.
\n\u201cWhile buying sentiment is subdued by the recent cooling measures, the announcement of the Draft Master Plan 2019 is likely the bright spark to trigger more sales activity, especially in areas that will see prospective growth,\u201d said Tan Tee Khoon, executive director & head of residential (project marketing) at Knight Frank.
\n\u201cFor instance, the plans for the Greater Southern Waterfront will offer much optimism in the future outlook of residential properties in the vicinity, and these properties will appeal to buyers with longer investment horizon,\u201d he noted.
\nCheck out PropertyGuru\u2019s\u00a0properties for sale in the CBD!\u00a0Alternately, refer to our\u00a0handy buying guides,\u00a0or read more about\u00a0the hottest areas to live in with PropertyGuru\u2019s AreaInsider
\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…URA Draft Master Plan to spark more home sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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