{"id":112829,"date":"2019-12-03T12:59:20","date_gmt":"2019-12-03T05:59:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-broadly-stable-but-face-risks-from-geopolitical-uncertainties\/"},"modified":"2019-12-03T13:04:05","modified_gmt":"2019-12-03T06:04:05","slug":"property-market-broadly-stable-but-face-risks-from-geopolitical-uncertainties","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-broadly-stable-but-face-risks-from-geopolitical-uncertainties\/","title":{"rendered":"Property market broadly stable but face risks from geopolitical uncertainties"},"content":{"rendered":"


\nThe government says it will continue to play an active role for the sake of market stability.
\nSecond Minister for National Development Desmond Lee believes that the property market is now broadly stable, but cautioned that risks from geopolitical tensions and trade rows could still affect the sector.
\nDuring the 60th anniversary dinner of the Real Estate Developers\u2019 Association of Singapore (Redas), Lee said private housing prices now seem to be moving in line with economic fundamentals compared to the first half of 2018, reported The Straits Times.
\nLee also said that concerns over uncertainties, such as the China-United States trade conflict and Brexit, could attract capital inflows into Singapore\u2019s property market, given the city state\u2019s status as a safe haven.
\nREAD:\u00a0Is The \u2018Wait-And-See\u2019 Property Market Finally Over?
\n\u201cThese are signs that the market is not overly exuberant, but growing at a more sustainable pace. But we should also be clear-eyed on the global outlook, which remains uncertain,\u201d he noted.
\n\u201cAt this point, the share of transactions by foreigners remains stable and low, accounting for 5 to 6% of total transactions over the past three quarters,\u201d he added.
\nLee emphasised the importance of having the property market remain sustainable and stable, because of the direct impact it has on the aspirations and lives of Singaporeans, adding that continued government intervention, such as the cooling measures in 2018, is needed to maintain this market stability.\u00a0
\n\u201cWe cannot take a hands-off approach to the property market, because our experience here and abroad has shown that left to itself, (the market) tends to go through large price swings, which harms genuine home buyers and homeowners.\u201d
\nHowever, Mr Lee also said that private developers can also play their part by pacing out launches in phases to meet buyers\u2019 demand, in view of the news of large supply overhang in the market.\u00a0
\nChia Ngiang Hong, Redas president, said developers are showing concern over the market situation of high supply and subdued demand.
\nHe added that they must be more proactive in setting up dialogue with the government and \u201ctogether help shape policies which are pro-enterprise and pro-business\u201d.
\nFinally, he said that developers should also \u201clook into the future\u201d by developing projects that address climate change, including making green buildings a priority and producing engineering solutions to reduce the impact of climate change.
\n\u00a0
\nLooking for a property in Singapore? Visit\u00a0PropertyGuru\u2019s\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\n\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…Property market broadly stable but face risks from geopolitical uncertainties<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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