{"id":111471,"date":"2019-10-09T11:40:48","date_gmt":"2019-10-09T04:40:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-remains-in-fair-valued-zone\/"},"modified":"2019-10-09T12:03:57","modified_gmt":"2019-10-09T05:03:57","slug":"singapore-housing-market-remains-in-fair-valued-zone","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-remains-in-fair-valued-zone\/","title":{"rendered":"Singapore housing market remains in fair-valued zone"},"content":{"rendered":"


\n\u00a0
\nSingapore was cited as the country with the most improved housing market with regard to affordability. The cooling measures, declining population growth, and expected economic downturn are three factors that have caused prices to stagnate and lower number of transactions.\u00a0\u00a0
\nSingapore\u2019s housing market retains its position in the fair-valued zone despite government regulations reining in the growth of property prices, reported Singapore Business Review citing the latest UBS Global Real Estate Bubble Index.
\nWith a score of 0.45, Singapore ranked 20th out of the 24 countries studied and was cited as the country with the most improved housing market with regard to affordability. Munich, Germany and Toronto, Canada placed first and second respectively.
\nAccording to the UBS Global Real Estate Bubble Index score, Singapore properties remain \u201cfair-valued\u201d after last year\u2019s cooling measures, which has helped to curb speculative demand.
\n\u201cThe Singapore housing market is one of the few amongst those we cover in which private housing affordability has improved in the last 10 years. Current prices are similar to those in 2008 whilst household incomes have climbed by 20 percent,\u201d said UBS.
\n\u00a0
\n\u00a0
\n\u201cNonetheless, affordability is still stretched. It takes 12 annual incomes to buy a 60 sq m (650 sq ft) apartment on the private market.\u201d
\n\u00a0
\nThe report also noted that there is a bit of a decline in the market.
\n\u201cThe brief housing boom between mid-2017 and mid-2018 is over. Prices have stagnated since and the number of transactions fell,\u201d it clarified.
\nUBS said that the Lion City\u2019s market slowdown was primarily due to declining population, government regulation and an anticipated economic downturn in the near-term.
\n\u201cThe government is keeping the market on a leash. The additional buyer stamp duties (ABSD) for developers and purchasers of investment properties introduced last year have put a lid on the price upside and curbed speculative demand,\u201d the report read.
\n\u201cPopulation growth has also declined notably in the past two years. Finally, economic momentum is expected to deteriorate, limiting the willingness to pay.\u201d
\nAdditionally, UBS explained there was a limited risk of a price correction due to sound marketing fundamentals such as a healthy employment rate, good affordability and a decreasing vacancy rate.
\n\u00a0
\nNeed help with your home buying\/selling\/renting process? Our\u00a0handy guides\u00a0will help.\u00a0Or find your dream home\u00a0on PropertyGuru.\u00a0
\nVictor Kang, Digital Content Specialist at PropertyGuru, edited 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 housing market remains in fair-valued zone<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Singapore was cited as the country with the most improved housing market with regard...<\/p>\n","protected":false},"author":1,"featured_media":111472,"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-111471","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/UBS-Global-Real-Estate-Bubble-Index-2019.png?fit=559%2C305&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-sZV","jetpack-related-posts":[{"id":98738,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-deemed-fairly-valued\/","url_meta":{"origin":111471,"position":0},"title":"Singapore housing market deemed fairly valued","date":"September 28, 2018","format":false,"excerpt":"\r View of private residential properties in Singapore. 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