{"id":118581,"date":"2020-09-08T10:47:58","date_gmt":"2020-09-08T03:47:58","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-property-transactions-to-gradually-improve-this-year-edmund-tie\/"},"modified":"2020-09-11T02:02:54","modified_gmt":"2020-09-10T19:02:54","slug":"residential-property-transactions-to-gradually-improve-this-year-edmund-tie","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-property-transactions-to-gradually-improve-this-year-edmund-tie\/","title":{"rendered":"Residential property transactions to gradually improve this year, Edmund Tie"},"content":{"rendered":"


\nThis comes as the progressive reopening of Singapore\u2019s economy from early June saw an uptick in residential transaction volumes.
\nThe healthy take-up of recent projects since the reopening of Singapore\u2019s economy should provide developers with some degree of optimism.\u00a0
\n\u201cWith an estimated 20 projects expected to be launched over the remainder of 2020, and barring further adverse externalities, transaction activity is anticipated to register a gradual improvement for the rest of the year,\u201d it said in its latest report.
\nThis comes as the progressive reopening of Singapore\u2019s economy from early June saw an uptick in residential transaction volumes.
\nIn fact, new home sales more than doubled from 487 units in May to 998 units in June, and continued to increase in July, hitting 1,080 units, which is the highest since November 2019, when 1,165 units were recorded.\u00a0
\nAfter a 1% decline in property prices in Q1 2020, overall private home prices rebounded by 0.3% quarter-on-quarter (q-o-q) in Q2 2020, based on the\u00a0URA All Residential Property Price Index (PPI). On a year-on-year (y-o-y) basis, property prices saw an increase of 1.2% in Q2 2020, in spite of the current COVID-19 pandemic.\u00a0\u00a0<\/p>\n

Diving deeper into the pricing trends, there was a 0.4% increase y-o-y in the Non-Landed PPI. Among the market segments, only the Rest of the Central Region (RCR) saw a q-o-q decline of 1.7%, whilst the Core Central Region (CCR) and Outside Central Region (OCR) both saw a 2.7% and 0.1% increase respectively.\u00a0<\/p>\n

Meanwhile, the Landed PPI remained unchanged in Q2 2020 after a q-o-q decline of 0.9% in Q1 2020. On a y-o-y basis, the Landed PPI still recorded an increase of 3.7%.\u00a0
\nSuggested read:\u00a0Landed property in Singapore: Terrace houses, bungalows and semi-detached houses
\nEdmund Tie\u2019s Senior Director of Research and Consulting Lam Chern Woon attributed the rebound to the pent-up demand in June, when the economy began to open up and showflats were allowed to resume operations.
\nThe relatively healthy property performance was also attributed to the low-interest rate environment as well as the high amount of liquidity within the system.
\n\u201cUnderlying demand remains relatively strong, notwithstanding the sluggish economy, as buyers adopt a mid- to long-term view of the market to buy into well located and designed projects,\u201d said Ong Choon Fah, Chief Executive Officer of Edmund Tie.
\n\u201cSome developers have also offered \u2018star buys\u2019 and incorporated flexible design features and wellness into their designs, making them particularly attractive,\u201d she added.
\nRead also:\u00a0PropertyGuru Monthly Market Roundup: August 2020 in Review
\nAlthough overseas demand has been affected by travel restrictions, Singaporean purchases made up for the slack, accounting for 80% of non-landed home sales in Q2 2020, up from the previous quarter\u2019s 77%.
\nAnd with buyers remaining cost-conscious, the proportion of apartment transactions under $1 million increased five percentage points to 25% in Q2 2020 from the previous quarter.
\nBut while buyers gravitated towards a lower price quantum, the proportion of transactions for units measuring below 500 sq ft declined. In Q2 2020, this category of apartments made up just 10% of total transactions, down from Q1 2020\u2019s 14%.
\nMeanwhile, the proportion of transactions for units measuring 500 sq ft to 700 sq ft increased three percentage points to 36% in Q2 2020.
\n\u201cThe shift away from compact units under 500 sq ft to more spacious homes could be arising from the fact that more employees are working from home,\u201d said Margaret Thean, Executive Director of Residential Sales at Edmund Tie.
\n\u201cGoing forward, as remote working becomes more prevalent in the new normal, apartments would need to have multi-functional layouts that facilitate seamless transition across living, working, studying and entertainment.\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\u00a0
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Residential property transactions to gradually improve this year, Edmund Tie<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

This comes as the progressive reopening of Singapore\u2019s economy from early June saw an uptick...<\/p>\n","protected":false},"author":1,"featured_media":118582,"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-118581","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property-news"],"jetpack_featured_media_url":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2020\/09\/non-landed-ppi-y-o-y-q2-2020-edmund-tie.png?fit=650%2C468&ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-uQB","jetpack-related-posts":[{"id":37211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow-2\/","url_meta":{"origin":118581,"position":0},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r A stronger resale market overall Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. 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Colliers International research head for Singapore Tricia Song said it is the lowest monthly\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":115742,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-market-sentiment-to-weaken-amid-restrictive-containment-measures\/","url_meta":{"origin":118581,"position":2},"title":"Residential market sentiment to weaken amid restrictive containment measures","date":"April 20, 2020","format":false,"excerpt":"\r After the residential market showed signs of slowing in the first quarter of 2020, Knight Frank expects market sentiment to weaken amid concerns over job security as well as restrictive containment measures due to Covid-19. Urban Redevelopment Authority (URA) flash estimates showed that the Property Price Index (PPI) of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":108888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-building-sector-to-grow-3-2-in-2019\/","url_meta":{"origin":118581,"position":3},"title":"Singapore\u2019s building sector to grow 3.2% in 2019","date":"July 11, 2019","format":false,"excerpt":"\r Fitch Solutions expects Singapore\u2019s building sector to grow by 3.2 percent this year and 2.3 percent in 2020, on the back of strong pipeline of planned buildings. Singapore Business Review reported that the firm attributed the faster pace of growth to the residential buildings sector, which it forecasts will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52343,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/best-selling-projects-in-march\/","url_meta":{"origin":118581,"position":4},"title":"Best-selling projects in March","date":"April 20, 2017","format":false,"excerpt":"\r Clear skies for Singapore\u2019s private property market. \u00a0 Private home sales here soared to its highest monthly level in March since June 2013 thanks to a more positive economic outlook, according to a report from Colliers International. \u00a0 Based on data from the Urban Redevelopment Authority (URA), transaction volume\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109010,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-buyers-lead-return-of-foreigners-in-singapores-luxury-homes\/","url_meta":{"origin":118581,"position":5},"title":"Chinese buyers lead return of foreigners in Singapore\u2019s luxury homes","date":"July 15, 2019","format":false,"excerpt":"\r Despite the cooling measures and hefty levies last year, data showed an unexpected rebound in the market as foreigners, especially Chinese buyers, are once again flocking into Singapore\u2019s luxury property market. 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