{"id":37158,"date":"2016-12-06T09:00:13","date_gmt":"2016-12-06T02:00:13","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow\/"},"modified":"2016-12-06T10:55:48","modified_gmt":"2016-12-06T03:55:48","slug":"demand-from-singaporean-home-buyers-continues-to-grow","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow\/","title":{"rendered":"Demand from Singaporean home buyers continues to grow"},"content":{"rendered":"


\nLake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. (Photo: Christopher Chitty)
\nThe residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in Q3 2016, revealed a report from Edmund Tie & Co.
\nIn fact, home purchases by Singaporeans climbed 1.9 percent quarter-on-quarter to 3,403 units, despite traditionally slower demand during the third quarter due to the Ghost Month. Home purchases by buyers with HDB addresses, however, fell from 1,792 units in Q2 to 1,480 units in Q3.
\nLake Grande emerged as the most popular project among Singaporeans during the quarter, with 441 units sold to local buyers, while The Trilinq (63 units sold) and The Poiz Residences (51 units sold) came in a distant second and third, respectively.
\nForeign buyers, on the other hand, accounted for nearly 23 percent of home purchases, with the number of sales to Singapore permanent residents (SPR) dropping to 784 units in Q3 from 816 units during the previous quarter. Purchases by non-permanent residents (NPR) also fell to 240 units from 302 units previously.
\n\u201cMirroring the preferences of Singaporeans, SPR buyers were attracted to Lake Grande at Jurong Lakeside District, registering 59 home acquisitions,\u201d said the report.
\n\u201cThe potential of Jurong Lakeside District becoming the second CBD also attracted NPR buyers, registering 14 purchases in Q3 and highest among the developments.\u201d
\nNPR buyers were also attracted to developments in prime locations, including Sophia Hills, Gramercy Park and Marina One Residences.
\nIn Q3, homes sales increased by one percent quarter-on-quarter to 4,596 units.
\nThe property consultancy attributed the uptick in transactions to the stronger showing in the resale market, which registered a 15.7 percent quarter-on-quarter increase in sales. Primary home sales dropped 13.2 percent due to slower sales in August.
\nBut despite the increase in transaction volume, home prices remained soft as the Urban Redevelopment Authority\u2019s (URA) private residential property price index fell 1.5 percent quarter-on-quarter in Q3, its 12th consecutive quarter of decline.
\nLooking ahead, Edmund Tie & Co expects home prices to ease further, as the city-state\u2019s economy continues to face headwinds. The economy grew 0.6 percent year-on-year in Q3, which was lower than anticipated.
\n\u201cWith the economy slowing, the Monetary Authority of Singapore (MAS) cautioned households to consider their housing choices carefully, as retirement adequacy could be compromised should households overstretched their finances,\u201d it said.
\nNonetheless, prices of properties close to amenities and transportation facilities are expected to remain resilient.
\n\u201cThe projects in 2017\u2019s pipeline are very attractive, and are expected to garner much interest. We anticipate most projects in 2017 to do well, given their choice locations,\u201d it 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…Demand from Singaporean home buyers continues to grow<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441...<\/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-37158","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\/p75ss1-9Fk","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":37158,"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. Image credit: Christopher Chitty The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":131837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/copen-grand-ec-fully-sold-hdb-launches-nearly-10000-flats-in-november-sales-exercise-extends-application-period-and-more\/","url_meta":{"origin":37158,"position":1},"title":"Copen Grand EC fully sold, HDB launches nearly 10,000 flats in November sales exercise, extends application period and more","date":"November 28, 2022","format":false,"excerpt":"\r Copen Grand EC fully sold, HDB launches nearly 10,000 flats in November sales exercise, extends application period and more22nd November\u00a0to 28th November 2022 Copen Grand, the first executive condominium (EC) in Tengah Town, has been fully sold after second-time buyers snapped all the remaining 146 units at the 639-unit\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2022\/11\/private-home-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":116906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-acquisitions-by-foreigners-drop-26-1-in-q1-2020\/","url_meta":{"origin":37158,"position":2},"title":"Private home acquisitions by foreigners drop 26.1% in Q1 2020","date":"June 5, 2020","format":false,"excerpt":"\r In terms of absolute transaction volume, buyers of all residential status have declined, but the biggest drop came from foreign home buyers (non-PRs) which fell by 26.1% to 215 units in Q1 2020. Singapore saw private homes sales drop by 14.4% quarter-on-quarter to 4,174 units in Q1 2020\u00a0\u2013 the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111632,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-hit-a-14-month-high-in-september\/","url_meta":{"origin":37158,"position":3},"title":"New home sales hit a 14-month high in September","date":"October 16, 2019","format":false,"excerpt":"\r Developers sold 1,270 private homes in September, driven by several new launches, including Avenue South Residence, which sold 361 units.\u00a0 \u00a0\u00a0 With developers revving up launches following the Hungry Ghost month, new private home sales in Singapore soared to its highest level in September since July 2018. Urban Redevelopment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":101756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/cooling-measures-dampened-buying-sentiment-in-q3-report\/","url_meta":{"origin":37158,"position":4},"title":"Cooling measures dampened buying sentiment in Q3: report","date":"November 28, 2018","format":false,"excerpt":"\r En bloc sales in Singapore have come to a halt while residential sales have also suffered. The government\u2019s latest round of property cooling measures dampened buying sentiment in the private residential market during the third quarter of 2018, said Edmund Tie & Company (ET&Co) in a report. This comes\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111882,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-up-in-q3-2019\/","url_meta":{"origin":37158,"position":5},"title":"Private home prices, HDB resale prices up in Q3 2019","date":"October 25, 2019","format":false,"excerpt":"\r Meanwhile, buyer demand for\u00a0HDB resale flats has remained surprisingly resilient, with 6,264 resale flats changing hands, which is almost on par with the 6,276 units transacted in Q2 2019. Despite rising global uncertainties, the impact of additional cooling measures and lukewarm consumer sentiment, Singapore\u2019s real estate market continued to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/ura-property-price-index-q3-2019-singapore.png?fit=550%2C283&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/37158"}],"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=37158"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/37158\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=37158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=37158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=37158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}