{"id":18988,"date":"2016-07-07T15:53:10","date_gmt":"2016-07-07T08:53:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/could-property-cooling-measures-in-singapore-be-permanent\/"},"modified":"2016-07-07T15:59:45","modified_gmt":"2016-07-07T08:59:45","slug":"could-property-cooling-measures-in-singapore-be-permanent","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/could-property-cooling-measures-in-singapore-be-permanent\/","title":{"rendered":"Could property cooling measures in Singapore be permanent?"},"content":{"rendered":"


\n\u201cTo ensure Singapore\u2019s long-term survival\u201d
\nWaterfront apartments in Singapore
\nUnless local residential property prices plunge dramatically, the Singaporean government may not lift the cooling measures, reported\u00a0Singapore Business Review\u00a0citing a Maybank Kim Eng report.
\n\u201cSingapore households have SGD840 billion (USD623.7 billion) of capital, or 209 percent of GDP tied up in residential property. This has resulted in lower disposable income, which has impeded consumer spending and muzzled entrepreneurship. Another less obvious implication of property \u2018overinvestment\u2019 is that home price appreciation fuels wage inflation, reducing Singapore\u2019s cost competitiveness,\u201d the report said.
\nWhile income returns have been meagre in recent years, residential properties remain a popular investment class, with investors setting aside the bulk of their savings in the hope that they can one day buy a house once prices eventually drop.
\nThe report noted that Singapore households are sitting on a \u201ccash pile of SGD374 billion (USD277.71 billion), which has surged since property curbs were rolled out in 2009.
\nMore: Mixed bag for Asia in new Prime Global Rental Index
\n\u201cWe believe that residential properties are sucking in surplus capital, with an increasing number of Singaporeans buying their second and third properties. This is economically non-productive.\u201d
\nMaybank believes the economy will be better off if Singaporeans use this idle capital elsewhere, such as improving consumer spending and boosting entrepreneurship.
\nSingaporeans have to be weaned from their long-held aspirations of becoming landlords earning passive rental income, while investors should let go of their belief that investment properties are the best asset class to own, it said.
\n\u201cTo ensure Singapore\u2019s long-term survival, we believe the government should not remove (the) property cooling measures. A sustained and gradual easing of property prices is necessary to restore business competitiveness, in our view,\u201d\u00a0added Maybank Kim Eng.
\n\u201cIf part of the monies that has been locked away in anticipation of a bottoming of the property cycle flows towards productive assets or even consumption, we believe entrepreneurship can be enhanced and thrive.\u201d
\nThis story originally appeared on PropertyGuru.com.sg on 1 July 2016.
\n
\nSource : property-report.com
\nRead more…Could property cooling measures in Singapore be permanent?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cTo ensure Singapore\u2019s long-term survival\u201d Waterfront apartments in Singapore Unless local residential property prices plunge...<\/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-18988","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\/p75ss1-4Wg","jetpack-related-posts":[{"id":108888,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-building-sector-to-grow-3-2-in-2019\/","url_meta":{"origin":18988,"position":0},"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":1359,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-now-might-be-a-good-time-to-buy-residential-property-in-singapore\/","url_meta":{"origin":18988,"position":1},"title":"Why now might be a good time to buy residential property in Singapore","date":"January 13, 2016","format":false,"excerpt":"\r Further home-price drop could signal the end of cooling measures Singapore has been branded as the \u201cworst-performing\u201d among Southeast Asian property markets, thanks (or no thanks) to the government-led curbing measures to cool the domestic market, which hit record prices in 2013. Some real estate analysts, however, think the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/Singapore-property.jpg?fit=740%2C555&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":8192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/prime-properties-now-more-affordable-jll\/","url_meta":{"origin":18988,"position":2},"title":"Prime properties now more affordable: JLL","date":"March 9, 2016","format":false,"excerpt":"\r Singapore\u2019s prime residential property is now more affordable than in other top global cities. (Photo: Erwin Soo, Wikimedia Commons) Prime residential property in Singapore is significantly more affordable now than in the rest of the world\u2019s best cities, according to the latest JLL report. \u201cSingapore ranks amongst the top\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66690,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ubs-avoiding-singapore-hk-housing-markets\/","url_meta":{"origin":18988,"position":3},"title":"UBS avoiding Singapore, HK housing markets","date":"September 18, 2017","format":false,"excerpt":"\r The bank feels that Singapore\u2019s housing market is too heavily regulated.\u00a0 Multinational bank UBS is avoiding the housing markets of Singapore and Hong Kong as there is a tendency for the governments of these cities to impose property cooling measures to control rising prices, reported Bloomberg. \u201cWe have no\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3452,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/how-singapore-has-avoided-losing-out-to-neighbouring-property-markets\/","url_meta":{"origin":18988,"position":4},"title":"How Singapore has avoided losing out to neighbouring property markets","date":"February 2, 2016","format":false,"excerpt":"\r Regional counterparts\u00a0are in no state to\u00a0take advantage of the Lion State\u2019s \u2018money avalanche\u2019 Singapore is a model property market for the Southeast Asian region and I always advise regional investors to watch it closely to observe how it affects the investment climate of other regional markets. Today I see\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/02\/A-palpable-chill.png?fit=740%2C492&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":42517,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/replace-absd-with-a-new-property-tax-jll\/","url_meta":{"origin":18988,"position":5},"title":"Replace ABSD with a new property tax: JLL","date":"February 1, 2017","format":false,"excerpt":"\r More calls to tweak the property cooling measures. With house prices under considerable pressure, given the subdued economic outlook both locally and globally as well as the expectations of rising interest rates, now could be the right time to consider property cooling measures, said JLL in a report. This\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18988"}],"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=18988"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/18988\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=18988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=18988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=18988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}