{"id":116343,"date":"2020-05-14T10:28:48","date_gmt":"2020-05-14T03:28:48","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-residential-transactions-continued-to-push-on-during-circuit-breaker\/"},"modified":"2020-05-14T11:04:09","modified_gmt":"2020-05-14T04:04:09","slug":"private-residential-transactions-continued-to-push-on-during-circuit-breaker","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-residential-transactions-continued-to-push-on-during-circuit-breaker\/","title":{"rendered":"Private residential transactions continued to push on during circuit breaker"},"content":{"rendered":"


\nThere were 286 caveats lodged from 7 April to 30 April, according to Knight Frank Singapore.\u00a0
\nDespite the closure of showflats and restrictions of viewing of properties because of the circuit breaker measures, Singapore\u2019s real estate market still showed life.
\n\u201cA quick count of real estate caveats across all sectors from 7 April to 30 April showed properties being transacted, with the private residential sector leading in volume with 286 caveats,\u201d said Leonard Tay, Head of Research at Knight Frank Singapore.
\nRelated: The URA Caveat: Why It\u2019s So Irresistibly Good
\nFor the whole month of April, the private residential market registered a total of 581 caveats.
\nTay revealed that 97 of the 286 units transacted during the circuit breaker period were recorded in the primary market, while the other 189 were posted in the secondary market.
\n\u201cNaturally, there might be technical reasons as to why there are private residential transactions in a time of Covid-19, such as, these caveats after 7 April include those that were close to sealing the deal prior to the circuit breaker,\u201d he said.
\n\u201cBut these numbers as meagre as they may seem, show that it is possible to sell and purchase private homes, in spite of the restrictions.\u201d
\nSales volume for the commercial sector, on the other hand, were much less, with only five office caveats and eight shophouse caveats posted in the 24 days of the circuit breaker in April. The industrial sector saw only eight factory units being transacted during the same period.
\nKnight Frank explained that the continued residential activity points \u201cto property being the asset class of choice among Ultra High Net Worth Individuals (UHNWIs) for wealth preservation\u201d.
\nBased on the Attitudes Survey of The Wealth Report 2020 showed that Singapore is the third most popular destination for purchasing homes amongst Asian investors, behind the US and UK.
\nInvestment property is still the most popular asset class among Singaporean UHNWIs, with around 40% planning to increase their allocations to real estate. Real estate investments account for 40% of the current allocations of UHNWIs.
\n\u201cReal estate may be down, but it\u2019s definitely not out,\u201d said Linda Chern, Head, Project Marketing, Prime Sales & Leasing, Residential, Knight Frank Singapore.
\n\u201cA slower market can give buyers more time to make better, considered options before they make a decision on a property purchase. This could be why homebuyers are still actively seeking and buying properties, be it for investment or simply to have a new home to stay in. Real estate is a necessity that holds perennial value regardless of the economic situation.\u201d
\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…Private residential transactions continued to push on during circuit breaker<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

There were 286 caveats lodged from 7 April to 30 April, according to Knight Frank...<\/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-116343","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-ugv","jetpack-related-posts":[{"id":117056,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-surged-by-81-3-in-may-despite-circuit-breaker\/","url_meta":{"origin":116343,"position":0},"title":"New home sales surged by 81.3% in May despite circuit breaker","date":"June 11, 2020","format":false,"excerpt":"\r May saw some 484 new sale caveats, up 81.3% from April\u2019s 267 new sale caveats. Singapore\u2019s real estate market showed signs of life with 967 caveats in the private residential sector from 7 April to 1 June, said Knight Frank. This is despite the\u00a0circuit breaker measures which restricted physical\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":116465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-drop-58-in-april\/","url_meta":{"origin":116343,"position":1},"title":"New private home sales drop 58% in April","date":"May 18, 2020","format":false,"excerpt":"\r Developers sold 277 new private homes in April, down 58% from the 660 units shifted in March. Photo: Kopar at Newton by CEL.\u00a0 With the implementation of circuit breaker measures from 7 April leading to the discontinuation of house viewings and closure of showflats, developers sold 277 new private\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120009,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/growing-demand-for-sentosa-cove-bungalows\/","url_meta":{"origin":116343,"position":2},"title":"Growing demand for Sentosa Cove bungalows","date":"January 15, 2021","format":false,"excerpt":"\r Singapore continues to draw foreign buyers despite travel restrictions, partly due to\u00a0its success in handling the pandemic.\u00a0Sentosa Cove is the only place where a foreigner may seek approval to acquire a\u00a0landed residential property\u00a0for their own use. Real estate agents expect the healthy sales momentum for bungalows within Sentosa Cove\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/01\/sentosa_cove.original.jpg?fit=840%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":118202,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/sale-of-prime-non-landed-homes-plunge-52-9-in-1h-2020\/","url_meta":{"origin":116343,"position":3},"title":"Sale of prime non-landed homes plunge 52.9% in 1H 2020","date":"August 12, 2020","format":false,"excerpt":"\r However, Knight Frank expects the sale of prime non-landed homes to improve in the second half of 2020. Singapore saw sale of prime non-landed homes drop 52.9% to $659.2 million in the first half of 2020 from the $1.4 billion registered in the second half of 2019, revealed a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117448,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/propnex-positive-of-private-home-markets-long-term-outlook\/","url_meta":{"origin":116343,"position":4},"title":"PropNex positive of private home market\u2019s long-term outlook","date":"June 30, 2020","format":false,"excerpt":"\r The real estate firm noted that the month-on-month rebound in new home sales in May and the return of homebuyers to acquire units during Phase 2 of the circuit breaker is \u201ca potential sign of underlying demand, particularly for strategically-priced units\u201d. Real estate firm PropNex expects homebuyers \u2013 especially\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":117942,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-up-0-3-in-q2-2020\/","url_meta":{"origin":116343,"position":5},"title":"Singapore private home prices up 0.3% in Q2 2020","date":"July 24, 2020","format":false,"excerpt":"\r Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020.\u00a0 Private home prices in Singapore rebounded 0.3% quarter-on-quarter in the second quarter of 2020, following a 1% decline in the previous quarter, revealed the latest report from the Urban Redevelopment Authority (URA). 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