{"id":113155,"date":"2019-12-18T10:58:54","date_gmt":"2019-12-18T03:58:54","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unlikely-to-ease-cooling-measures-as-election-nears\/"},"modified":"2019-12-18T11:41:26","modified_gmt":"2019-12-18T04:41:26","slug":"govt-unlikely-to-ease-cooling-measures-as-election-nears","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-unlikely-to-ease-cooling-measures-as-election-nears\/","title":{"rendered":"Gov\u2019t unlikely to ease cooling measures as election nears"},"content":{"rendered":"


\nLoosening property curbs would be an unpopular decision, analyst say.\u00a0\u00a0
\nIt is highly improbable that Singapore will ease property cooling measures as it nears a high-stakes election, reported Bloomberg.
\nDespite several developers\u00a0calling for the loosening up of the measures to cope with the property glut, the government is not keen on the idea as it may end up costing votes for the ruling People\u2019s Action Party (PAP).
\nRelaxing property curbs might result in sending prices skyrocket, making it even more costly for citizens to purchase private apartments, analyst say.\u00a0
\nThe country is currently facing a housing oversupply that might take up to four years to be resolved, as there are around 32,000 units still in the pipeline.
\nWhile home prices saw a drop following the latest round of cooling measures implemented in July 2018, they\u2019ve increased again in recent quarters.
\n\u201cRelaxing curbs is likely to be unpopular ahead of the upcoming general elections and could potentially spike up prices amid volatile market conditions in neighboring countries,\u201d said Vijay Natarajan, Analyst at RHB Research Institute Singapore Pte.
\n\u201cAny pre-election goodies are likely to be focused on the public housing segment where the government has already announced enhanced grants to support resale market prices.\u201d
\nAlthough elections are currently scheduled on April 2021, they could be called as early as March after the government\u2019s unveiling of the budget in February. The PAP is expected to win the elections, as it garnered almost 70% of the votes during the last elections held in 2015.
\nEven if the party were to make minor adjustments such as lowering the Additional Buyer\u2019s Stamp Duty (ABSD) developers must pay to 20%, a backlash could occur.
\n\u201cThe opposition may simply say that the government is helping developers by lowering the ABSD and all sorts of well-sounding arguments will crop up online. The best thing is to just get the election over and come back down to making rational decisions,\u201d said Alan Cheong, Savills Plc Senior Director.
\nRELATED:\u00a0Presenting The Singapore Property Market Outlook 2020
\nChristine Sun, Head of Research and Consultancy at OrangeTee & Tie Pte, believes various factors such as macroeconomic conditions could have a more vital role compared to politics in determining whether property curbs should be relaxed.
\nShe noted that the government seems content with the current rate at which prices are increasing, while buoyant sales should assist in absorbing unsold units.
\n\u201cIt\u2019s unlikely they\u2019ll want to change things too drastically now,\u201d she said
\nCheong believes though, that the cooling measures should be adjusted at some point as the inability of developers to sell larger units is preventing a smooth functioning market.
\nHe suggested that stamp duties for citizens and foreign buyers could be recalibrated, while developers\u2019 levies should be subject to a tier based on the size of their projects. \u201cWhether they will tweak or not is their prerogative, however we feel that whenever measures are implemented, a feedback and action loop must be in place,\u201d Cheong said.
\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…Gov\u2019t unlikely to ease cooling measures as election nears<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Loosening property curbs would be an unpopular decision, analyst say.\u00a0\u00a0 It is highly improbable that...<\/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-113155","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-tr5","jetpack-related-posts":[{"id":25289,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-wont-ease-property-cooling-measures-anytime-soon\/","url_meta":{"origin":113155,"position":0},"title":"MAS won\u2019t ease property cooling measures anytime soon","date":"September 7, 2016","format":false,"excerpt":"\r The revised mortgage refinancing rules do not represent an easing of the property cooling measures, said MAS Managing Director Ravi Menon. The Monetary Authority of Singapore (MAS) will not ease the property cooling measures which have caused home prices to drop by almost 10 percent anytime soon, reported Bloomberg.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113157,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/as-singapore-heads-into-election-easing-property-curbs-appears-unlikely\/","url_meta":{"origin":113155,"position":1},"title":"As Singapore heads into election, easing property curbs appears unlikely","date":"December 18, 2019","format":false,"excerpt":"\r Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year.Although several developers, including City Developments Ltd, have called on the government to loosen curbs to help fix an apartment glut, such a move\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97200,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-that-acquired-expensive-land-to-feel-brunt-of-new-property-curbs\/","url_meta":{"origin":113155,"position":2},"title":"Developers that acquired expensive land to feel brunt of new property curbs","date":"September 4, 2018","format":false,"excerpt":"\r Experts revealed that real estate developers that bought pricey land in Singapore\u2019s prime districts during the most recent en bloc cycle prior to the implementation of the new property curbs are the most at risk from the fresh cooling measures, reported the Business Times. The city-state\u2019s prime areas are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98473,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investors-eschew-property-developers-post-cooling-measures\/","url_meta":{"origin":113155,"position":3},"title":"Investors eschew property developers post cooling measures","date":"September 25, 2018","format":false,"excerpt":"\r Weak interest seen for developer shares in Singapore.\u00a0 Stock pickers are shunning home builders in favour of Singapore real estate investment trusts (S-REITs) following the imposition of new real estate curbs in July, reported Bloomberg. \u201cThe market had not expected the severity of the measures announced,\u201d said Vijay Natarajan,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94193,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-curbs-signal-end-of-quick-profit-making-from-property\/","url_meta":{"origin":113155,"position":4},"title":"New curbs signal end of quick profit-making from property","date":"July 18, 2018","format":false,"excerpt":"\r A senior property analyst believes the days of making quick money from property has come to an end with the release by the government of its latest round of property cooling measures, reported Today Online. Homeowners generally make more profit in collective sales than by selling their homes individually\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40432,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/credit-suisse-time-is-ripe-to-ease-property-cooling-measures\/","url_meta":{"origin":113155,"position":5},"title":"Credit Suisse: Time is ripe to ease property cooling measures","date":"January 12, 2017","format":false,"excerpt":"\r Some analysts believe there is a case for an easing of measures. Credit Suisse believes that the time is ripe for an easing of some of the property cooling measures, given that several of its objectives have been met. Speculative activities, for instance, have significantly dropped as monthly sub-sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/01\/Property-cooling-measures-and-potential-adjustments.jpg?fit=755%2C368&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113155"}],"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=113155"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/113155\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=113155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=113155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=113155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}