{"id":20856,"date":"2016-07-26T10:44:18","date_gmt":"2016-07-26T03:44:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-time-yet-to-lift-property-cooling-measures-mas\/"},"modified":"2016-07-26T15:41:09","modified_gmt":"2016-07-26T08:41:09","slug":"not-time-yet-to-lift-property-cooling-measures-mas","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-time-yet-to-lift-property-cooling-measures-mas\/","title":{"rendered":"Not time yet to lift property cooling measures: MAS"},"content":{"rendered":"


\nSingapore\u2019s property cooling measures won\u2019t be removed anytime soon.
\nIt is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS).
\n\u201cThere is still some way to go, to entrench the gains in stabilising the property market and restoring household debt sustainability,\u201d said MAS Managing Director Ravi Menon at the central bank\u2019s annual report briefing on Monday (25 July).
\nNotably, household balance sheets have started to strengthen, with annual growth in household debt moderating to 1.7 percent in Q1 2016, down from around 8.0 percent in the past five years.
\nOver the last two years, the property market has also been stabilising, with prices moderating from their peak in Q3 2013.
\nHowever, Menon noted that prices have adjusted only moderately by a cumulative 9.4 percent, compared to the 60 percent increase recorded between 2009 and 2013 when nominal incomes rose by only 30 percent during the same period.
\n\u201cThe risk of a renewed surge in property prices is not trivial given that interest rates are likely to remain low and global investors continue to search for yield,\u201d he said.
\n\u201cAnd while the growth in household debt has eased considerably, it will take time for household balance sheets to strengthen and become more resilient to interest rate and income shocks.\u201d
\nCushman & Wakefield Research Director Christine Li noted that while the multiple dosages of property cooling measures such as the Additional Buyer\u2019s Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR) have significantly curbed demand for housing, \u201cliquidity in the market is still excessive, which prompts investors to buy physical assets to combat inflation or for wealth preservation in a persistent low interest rate environment.
\n\u201cAlong with the pent-up demand accumulated over the past three years and the decline in the mortgage rates post-Brexit, the risk of having a technical rebound of the property prices is now higher compared to quarters ago,\u201d she added.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Not time yet to lift property cooling measures: MAS<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singapore\u2019s property cooling measures won\u2019t be removed anytime soon. It is not the right time...<\/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-20856","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\/p75ss1-5qo","jetpack-related-posts":[{"id":21108,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-singapores-property-cooling-measures-wont-be-removed-anytime-soon\/","url_meta":{"origin":20856,"position":0},"title":"Why Singapore\u2019s property cooling measures won\u2019t be removed anytime soon","date":"July 27, 2016","format":false,"excerpt":"\r \u201cThere is still some way to go\u201d Is it the right time to remove the cooling measures in Singapore? It is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS). \u201cThere is still some way to go, to entrench the gains\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-stabilising-says-mas-chief\/","url_meta":{"origin":20856,"position":1},"title":"Property market stabilising, says MAS chief","date":"January 17, 2017","format":false,"excerpt":"\r Property prices in Singapore surged from 2009 to 2013, but have fallen by around 11 percent since then. The various property cooling measures rolled out by the government have been effective in stabilising Singapore\u2019s once soaring property market, reported CNBC citing the central bank\u2019s chief. From 2009 to 2013,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25289,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-wont-ease-property-cooling-measures-anytime-soon\/","url_meta":{"origin":20856,"position":2},"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":117842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-chief-sees-no-need-to-ease-property-cooling-measures\/","url_meta":{"origin":20856,"position":3},"title":"MAS chief sees no need to ease property cooling measures","date":"July 17, 2020","format":false,"excerpt":"\r This comes as Singapore\u2019s property market has remained stable due to the previous property cooling measures as well as the temporary relief measures rolled out by the government.\u00a0 Despite the economic slowdown due to the COVID-19 pandemic, Monetary Authority of Singapore (MAS) Managing Director Ravi Menon believes there is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":59338,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-remain-necessary-says-mas\/","url_meta":{"origin":20856,"position":4},"title":"Property cooling measures remain necessary, says MAS","date":"June 30, 2017","format":false,"excerpt":"\r \u00a0 The Monetary Authority of Singapore on Thursday (29 June) said the property cooling measures remain necessary given that the underlying demand for private residential properties continue to be firm amid a persistently low interest rate environment and foreign investors looking for good yields, reported Today Online. MAS managing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99766,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-checking-impact-of-new-property-curbs\/","url_meta":{"origin":20856,"position":5},"title":"MAS checking impact of new property curbs","date":"October 12, 2018","format":false,"excerpt":"\r The central bank\u2019s head thinks it will take at least two to three quarters to fully understand the implications of the latest property cooling measures. After the government imposed a \u201cdecisive set of measures\u201d on 6 July, the Monetary Authority of Singapore (MAS) is keeping a close watch on\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\/20856"}],"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=20856"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/20856\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=20856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=20856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=20856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}