{"id":109478,"date":"2019-07-30T12:11:28","date_gmt":"2019-07-30T05:11:28","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-recovering-housing-market-a-boon-for-dbs\/"},"modified":"2019-07-30T13:02:47","modified_gmt":"2019-07-30T06:02:47","slug":"singapores-recovering-housing-market-a-boon-for-dbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-recovering-housing-market-a-boon-for-dbs\/","title":{"rendered":"Singapore\u2019s recovering housing market a boon for DBS"},"content":{"rendered":"


\nDBS cited mortgage lending as a bright spot in their recently released second-quarter earnings as the b Mortgage-loan applications rose 60 per cent from the first three months of 2019. This is due to the resurging housing market.\u00a0
\nBenefitting from the city-state\u2019s resurging housing market, Singapore\u2019s biggest bank DBS Group Holdings cited mortgage lending as a bright spot in their recently released second-quarter earnings, reported Bloomberg.
\nDBS CEO Piyush Gupta revealed they have \u201cseen the bookings come back up\u201d, following three quarter of subdued growth, which was ushered by last July\u2019s property cooling measures.
\nHe noted that second-quarter mortgage-loan applications rose 60 percent from the first three months of 2019 and \u201csince bookings are up, you\u2019ll see the flow through to the balance sheet\u201d in the second half.
\nLatest data showed that home prices in Singapore grew 1.5 percent in the three months to 30 June, which is the highest gain since Q2 2018. The hike in prices was driven by luxury purchases as well as a robust increase in foreign buying of private homes.
\nNonetheless, the effect of last year\u2019s cooling measures is still felt despite the up-tick.
\nLooking ahead, Gupta expects the bank\u2019s mortgage book to grow by around $1 billion in the second half \u2013 leading to a projected growth of around $2 billion for 2019. This is down from the $4 billion forecast made at the start of 2018.
\nAnd while it is \u201cmuch slower than it used to be, but it\u2019ll still be positive\u201d, said Gupta.
\nVictor Kang, Digital Content Specialist at PropertyGuru, wrote this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore\u2019s recovering housing market a boon for DBS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

DBS cited mortgage lending as a bright spot in their recently released second-quarter earnings as...<\/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-109478","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-stM","jetpack-related-posts":[{"id":104147,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-bank-misses-mortgage-growth-forecast-for-2018\/","url_meta":{"origin":109478,"position":0},"title":"DBS Bank misses mortgage growth forecast for 2018","date":"February 19, 2019","format":false,"excerpt":"\r The bank\u2019s mortgage business continues to be slow. Growth in DBS Bank\u2019s housing loans business weakened further than expected last year following the introduction of new property cooing measures in July, reported the Business Times. Despite revising its original full-year forecast of $4 billion to $2.5 billion when it\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94279,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-cooling-measures-to-impact-banks-mortgage-business-says-dbs\/","url_meta":{"origin":109478,"position":1},"title":"New cooling measures to impact banks\u2019 mortgage business, says DBS","date":"July 20, 2018","format":false,"excerpt":"\r Singapore\u2019s mortgage market is expected to soften in the long term due to the new cooling measures in the private residential market, according to the city-state\u2019s largest bank, DBS Group Holdings. 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":95567,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-to-drop-by-up-to-10-following-new-curbs\/","url_meta":{"origin":109478,"position":2},"title":"Singapore home prices to drop by up to 10% following new curbs?","date":"August 7, 2018","format":false,"excerpt":"\r Local banks reckon home prices will fall following the latest round of cooling measures. Singapore banks expect home prices to fall along with home loan activity, following the introduction by the government of its latest round of property cooling measures. UOB chief Wee Ee Cheong revealed that his \u201cgut\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-mortgage-demand-significantly-dented\/","url_meta":{"origin":109478,"position":3},"title":"Singapore mortgage demand significantly dented","date":"January 25, 2019","format":false,"excerpt":"\r Rising interest rates and new property cooling measures have significantly dented mortgage demand. Rising interest rates and the government\u2019s surprise property cooling measures in July have significantly dented mortgage demand at Singapore\u2019s banks, threatening to further accelerate the decline in house prices, reported Bloomberg. In the first 11 months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95315,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-related-loans-to-fall-by-1b-in-2h-2018-dbs\/","url_meta":{"origin":109478,"position":4},"title":"Property-related loans to fall by $1b in 2H 2018: DBS","date":"August 3, 2018","format":false,"excerpt":"\r Mortgages to home buyers and loans to property developers are expected to decline following the new property cooling measures. Due to the new property curbs, DBS Group Holdings expects its mortgage business to grow by 6.0 to 7.0 percent for the whole of 2018, down from its initial forecast\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":46013,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-uob-offering-home-loans-with-zero-spread\/","url_meta":{"origin":109478,"position":5},"title":"DBS, UOB offering home loans with zero spread","date":"February 28, 2017","format":false,"excerpt":"\r A large crowd of prospective buyers at The Clement Canopy showflat. (Photo: UOL Group) DBS Bank and United Overseas Bank (UOB) are offering mortgages with zero percent spread to compete for the chance to fund the purchase of a minimum of 1,225 homes in this year\u2019s first two property\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\/109478"}],"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=109478"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/109478\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=109478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=109478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=109478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}