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\nThis comes as property demand has fallen since the 2018 cooling measures.\u00a0
\nThe government has moved to lessen the supply of private residential housing from confirmed sites covered by the government land sales (GLS) programme for 2019\u2019s second half, reported The Straits Times.
\nThis is believed to be caused by the steady decline of demand since the property market cooling measures were introduced in July 2018.
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This comes as property demand has fallen since the 2018 cooling measures.\u00a0 The government has...<\/p>\n","protected":false},"author":1,"featured_media":107852,"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-107851","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/06\/PGSG_Consumer_GuruDeals_In-house_Content_Banner-1-6.jpg?fit=728%2C120&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-s3x","jetpack-related-posts":[{"id":108720,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/one-year-on-how-the-cooling-measures-came-and-shook-up-the-housing-market\/","url_meta":{"origin":107851,"position":0},"title":"One Year On: How The Cooling Measures Came And Shook Up The Housing Market","date":"July 4, 2019","format":false,"excerpt":"\r Today marks exactly one year since the Government dropped the surprise announcement that it was raising Additional Buyer\u2019s Stamp Duty (ABSD) rates and tightening Loan-To-Value (LTV) limits just after 7pm on July 5. The measures, which took effect the next day, came as a surprise, arriving just as property\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/07\/higher-absd-rates.png?fit=851%2C617&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":107633,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-achieved-stabilisation-goals-wong\/","url_meta":{"origin":107851,"position":1},"title":"Property cooling measures achieved stabilisation goals, Wong","date":"May 31, 2019","format":false,"excerpt":"\r The property cooling measures helped stabilise the property cycle, according to the Minister for National Development.\u00a0 While Singapore welcomes investors, the city-state is no place speculators. This comes as the property cooling measures rolled out by the government in July 2018 achieved what it had set out to do\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":107846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-bto-housing-units-to-get-modern-high-quality-furnishings\/","url_meta":{"origin":107851,"position":2},"title":"New BTO housing units to get modern, high-quality furnishings","date":"June 6, 2019","format":false,"excerpt":"\r BTO buyers from February onwards will get to enjoy new bathroom upgrades, new floor designs, and enhanced grilles and doors, among others.\u00a0 \u00a0 The Housing and Development Board (HDB) revealed on Wednesday that new Build-to-Order (BTO) flats purchased from February onwards will have higher-quality furnishings, reported Channel News Asia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/img.youtube.com\/vi\/AD3hYPh3A_0\/0.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":107630,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-inch-up-0-1-in-q1\/","url_meta":{"origin":107851,"position":3},"title":"Private home sales inch up 0.1% in Q1","date":"May 31, 2019","format":false,"excerpt":"\r Overall, 1,838 new private housing units were sold in Q1 2019. With developers ramping up their launches, Singapore saw a total of 2,989 uncompleted private homes launched for sale in the first quarter of 2019, up 80.4 percent from the previous quarter, reported Singapore Business Review citing Savills Research.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":124195,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-property-and-hdb-prices-touch-record-highs-in-2021-growing-rental-demand-in-2022-and-more\/","url_meta":{"origin":107851,"position":4},"title":"Private property and HDB prices touch record highs in 2021, growing rental demand in 2022, and more","date":"January 11, 2022","format":false,"excerpt":"\r Private property and HDB prices touch record highs in 2021, growing rental demand in 2022, and more3rd January to 10th January 2021 ended on a high for the Singapore property market. As supply for private property and HDB flats dipped, prices peaked. The response from the Singapore government was\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/01\/singapore-marina.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":106740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propertyguru-launches-gurudeals-offering-huge-savings-off-selected-properties\/","url_meta":{"origin":107851,"position":5},"title":"PropertyGuru launches GuruDeals, offering huge savings off selected properties","date":"May 1, 2019","format":false,"excerpt":"\r Enjoy exclusive deals on new homes totalling more than S$2.5 million. Singapore was recently ranked as the world\u2019s second most expensive private housing market behind Hong Kong, according to a CBRE study which compared property prices across 35 key global cities. The report noted that average home prices in\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\/107851"}],"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=107851"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/107851\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media\/107852"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=107851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=107851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=107851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nIt is also seen that the government\u2019s decision was influenced by a large supply of an estimated 44,000 private housing units coming in. There are also an estimated 24,000 private housing units that remain unsold.
\nIn an announcement, the Ministry of National Development released eight reserve list sites and five confirmed list sites that have the capacity of 6,430 private homes, 1,100 hotel rooms, and 92,000 sq m gross floor area (GFA).
\nThe private home supply totalling to 1,715 units\u00a0under the confirmed list sites is 15 percent or 301 units lower than the 2,025 units, compared to the confirmed list sites for the 2019 GLS programme\u2019s first half.
\nMeanwhile, the reserve list is composed of four private residential sites including one hotel site, three white sites and one EC site. These sites can yield around 4,715 private\u00a0residential units, 1,100 hotel rooms, with 92,000 sq m GFA of commercial space.
\nOn the other hand, the five confirmed list sites are considered private residential sites, which includes one EC site that can yield around 1,715 private residential units.
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Government moves to reduce supply of private homes on confirmed list<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"