{"id":112645,"date":"2019-11-26T11:55:37","date_gmt":"2019-11-26T04:55:37","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/upward-momentum-in-sg-condo-prices-could-last-until-q3-2020\/"},"modified":"2019-11-26T12:37:09","modified_gmt":"2019-11-26T05:37:09","slug":"upward-momentum-in-sg-condo-prices-could-last-until-q3-2020","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/upward-momentum-in-sg-condo-prices-could-last-until-q3-2020\/","title":{"rendered":"Upward momentum in SG condo prices could last until Q3 2020"},"content":{"rendered":"


\n\u00a0
\nGood news for sellers (and developers). The increase in residential property prices, which include condo prices, is\u00a0expected to last until Q3 2020, a new\u00a0Savills Research report\u00a0revealed.
\nBased on URA data, private home prices rose a second consecutive quarter in Q3 2019 by 1.3%, after 2.0% in Q2. This increase is mostly driven by newly launched projects, which buyers\u00a0have been lately observed to gravitate towards at the expense of resale property according to the latest\u00a0PropertyGuru quarterly report.
\nHowever, the Savills report also noted certain factors that may\u00a0stunt the upward momentum of prices. \u201cAlthough studies have shown that the up-leg of our price cycle tends to last 8.7 quarters, but with the global headwinds driven by social and political tensions, it may be better to err on the side of caution and choose a shorter time frame of 6 quarters as the base case,\u201d the report wrote.
\nSavills also recommended that the current private residential market be left \u201cunperturbed\u201d by government intervention despite the rising prices and economic conditions.
\n\u201cGiven the fickleness of market behaviour these days, any measures to rein in demand may instead destabilise it. There will then be the attendant negative spillover effects into the other domestic sectors of the economy. The risk of intervention may incite an unknown market behaviour to emerge,\u201d said the report.
\nOver half of sales were for smaller-sized units
\nThe Savills report additionally noted\u00a0that a sizeable group of private buyers put\u00a0their money into smaller-sized units. Specifically,\u00a034.8% of new units sold in the first nine months of 2019 were between 600 sq ft to 800 sq ft,\u00a0while\u00a027.6% were from 400 to 600 sq ft.
\n\u201cWe are seeing buyers go for\u00a0compact units because of limited capital,\u201d said Tan Tee Khoon, Country Manager of PropertyGuru Singapore. \u201cThe tight budget also partly explains their preference for newly launched properties,\u00a0as these\u00a0typically have\u00a0a lower quantum price than resale properties by virtue of being smaller in floor area, as well as more a favourable payment schedule.\u201d
\nSales Volume Of Non-Landed Private Residential Units By Size, January to September 2019.
\nFound the story insightful? Check out these cozy condos under 750 square feet in Singapore or discover\u00a0seriously cheap freehold condos ideal for singles and\u00a0couples
\n\u00a0
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…Upward momentum in SG condo prices could last until Q3 2020<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a0 Good news for sellers (and developers). The increase in residential property prices, which include...<\/p>\n","protected":false},"author":1,"featured_media":112646,"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-112645","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\/11\/Sales-Volume-Of-Non-Landed-Private-Property.png?fit=1270%2C1117&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-tiR","jetpack-related-posts":[{"id":140076,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-resale-price-growth-slows-up-1-3-in-q3-2023-private-home-prices-post-marginal-increase-of-0-8-in-q3-2023-and-more\/","url_meta":{"origin":112645,"position":0},"title":"HDB Resale Price Growth Slows, up 1.3% In Q3 2023, Private Home Prices Post Marginal Increase of 0.8% In Q3 2023 and More","date":"October 30, 2023","format":false,"excerpt":"\r HDB Resale Price Growth Slows, up 1.3% In Q3 2023, Private Home Prices Post Marginal Increase of 0.8% In Q3 2023 and More24\u00a0October to 30\u00a0October 2023 Resale prices of Housing and Development Board (HDB) flats increased 1.3% in the third quarter of 2023, slowing from the 1.5% growth registered\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2023\/10\/singapore-hdb-landscape-1.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":75751,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-a-retardant-to-property-markets-recovery\/","url_meta":{"origin":112645,"position":1},"title":"Cooling measures a \u201cretardant\u201d to property market\u2019s recovery","date":"January 4, 2018","format":false,"excerpt":"\r With the property market expected to finally make its long-awaited recovery, some analysts see the government\u2019s cooling measures as a \u201cretardant\u201d to the market\u2019s momentum of recovery. Ong Teck Hui, national director of research and consultancy at JLL, likened the measures to \u201can iron ball shackled to the foot\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91224,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/increased-activity-in-luxury-condo-market\/","url_meta":{"origin":112645,"position":2},"title":"Increased activity in luxury condo market","date":"June 12, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The luxury private condominium segment has sprung back to life over the past few months, with the price quantum almost hitting a nine-year high when a total of 22 units were snapped up for at least $10 million each during the first quarter,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/orchard-condo-sets-record-psf-prices\/","url_meta":{"origin":112645,"position":3},"title":"Orchard condo sets record psf prices","date":"March 13, 2018","format":false,"excerpt":"\r CDL\u2019s New Futura condo sold 48 units at an average price of over $3,200 psf. Most of the released units in CDL\u2019s recently launched New Futura project have been sold at an average price of $3,200 psf \u2013 the highest in five years, reported Singapore Business Review. The selling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101542,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-condo-prices-hit-record-high-in-q3\/","url_meta":{"origin":112645,"position":4},"title":"Luxury condo prices hit record high in Q3","date":"November 22, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The average price of resale luxury condos in Singapore reached a new record high of $2,063 psf in Q3 2018, likewise for new sales of high-end condos at $2,819 psf, according to a new report from OrangeTee & Tie. The most expensive luxury\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-up-1-1-in-q3\/","url_meta":{"origin":112645,"position":5},"title":"Private home prices up 1.1% in Q3","date":"October 22, 2021","format":false,"excerpt":"\r Quarter-on-quarter, private home prices\u00a0went up by\u00a01.1% and resale transactions increased to 5,362 units from 5,333 units. 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