{"id":38843,"date":"2016-12-22T09:30:34","date_gmt":"2016-12-22T02:30:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/hopes-of-tweaking-cooling-measures-revived\/"},"modified":"2016-12-22T11:30:36","modified_gmt":"2016-12-22T04:30:36","slug":"hopes-of-tweaking-cooling-measures-revived","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hopes-of-tweaking-cooling-measures-revived\/","title":{"rendered":"Hopes of tweaking cooling measures revived"},"content":{"rendered":"


\nWill the property cooling measures be eased in 2017?\u00a0
\nHopes of seeing the government tweak the property cooling measures have been rekindled after the US Federal Reserve signalled a faster pace of interest rate hikes in 2017, reported The Business Times.
\nExpecting stronger economic headwinds, some industry players believe that it is better to ease the measures now than try to revive the market when the economy is already in a dire state.
\nHowever, it may be too early to unwind the policies now given that the cycle of Fed rate hikes has just started, and most central banks have taken a wait-and-see approach.
\nAlso, the private residential market does not seem to need any propping up as it registered more moderate price declines from the previous year, while witnessing a recovery in sales momentum.
\nIn the first 11 months of the year, developers sold 11,573 private residential and executive condominium (EC) units, surpassing the 9,990 units sold for the whole of 2015.
\nResale volumes increased by 27 percent during the first three quarters than in the same period last year, due to the narrowing of the price expectation gap between buyers and sellers.
\nThe improvement in transactions is, in fact, setting the stage for a sustainable recovery within the housing sector.
\nThe constraints brought forth by the TDSR has not dented investment appetite for residential properties as shown in the brisk sales recorded in some project launches this year, particularly those offering many smaller units with palatable quantums.
\nA study of project launches with at least 100 housing units indicates that the average take-up rate (based on all units) was 41 percent in the first month of launch, an improvement from 25 percent for project launches in 2015.
\nMoreover, the supply pipeline of housing units to be completed has steadily dropped from the peak in Q1 2013.
\nMore than 50 percent of the 43,693 private residential units (excluding ECs) in the pipeline as at end-Q3 2016 have been sold, bringing the number of unsold units to 20,577.
\nThe remaining 47 percent of units left unsold is below the historical average of 58.7 percent since 2001.
\nHowever, some signs of strains have emerged. The MAS revealed that the share of mortgage loans over 30 days in arrears rose to nearly one percent in September, while non-performing housing loans climbed to 0.4 percent.
\nDespite the uncertain economic environment, views on the property cooling measures remain mixed.
\nOCBC Bank analyst Eli Lee, for instance, believes that there is significant scope to unwind the measures.
\nSince 1985, he noted that the government had loosened its stance in three instances (1997, 2001 and 2008) after property prices fell by 8.3 percent to 16.4 percent.
\nIn Q3 2016, private home prices were 10.8 percent below their peak in Q3 2013.
\nMaybank Kim Eng analyst Derrick Heng, on the other hand, said Hong Kong\u2019s recent policy tightening should make Singapore wary of fund flows from overseas markets in case it loosens the measures.
\nTo support the prime residential segment, others believe that the Additional Buyer\u2019s Stamp Duty (ABSD) on home acquisitions by foreigners can be tweaked without affecting the mass market. This line of argument is, however, misguided.
\nForeigners\u2019 share of residential purchases within the city-fringe and suburban regions dropped only after the ABSD was introduced in December 2011 \u2013 from 17.5 percent in Q4 2011 to about 5.5 percent in Q4 2016.
\nIn recent quarters, the suburban region has accounted for over 40 percent of home purchases by foreigners.
\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…Hopes of tweaking cooling measures revived<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Will the property cooling measures be eased in 2017?\u00a0 Hopes of seeing the government tweak...<\/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-38843","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-a6v","jetpack-related-posts":[{"id":136094,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-hikes-property-tax-in-latest-round-of-cooling-measures\/","url_meta":{"origin":38843,"position":0},"title":"Singapore hikes property tax in latest round of cooling measures","date":"April 27, 2023","format":false,"excerpt":"\r Both local and foreign buyers of residential properties will now have to pay higher additional buyers' stamp duties, which will take effect from today.\r \r Source : cnbc.com\r Read more...Singapore hikes property tax in latest round of cooling measures","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-impact-bigger-than-expected\/","url_meta":{"origin":38843,"position":1},"title":"Property cooling measures\u2019 impact bigger than expected","date":"January 11, 2019","format":false,"excerpt":"\r DBS bank\u2019s property loans segment has dropped by 40 to 50 percent since the latest cooling measures were announced. The government\u2019s surprise property cooling measures in July 2018 had \u201cmore bite\u201d than anticipated, with DBS bank\u2019s property loans segment dropping by 40 to 50 percent \u2013 way below the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104022,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-wishlist-for-budget-2019\/","url_meta":{"origin":38843,"position":2},"title":"Property wishlist for Budget 2019","date":"February 15, 2019","format":false,"excerpt":"\r Some experts are hoping that the latest round of cooling measures introduced in July will be eased. Property market watchers are looking forward to Singapore\u2019s 2019 Budget, which is set to be delivered by Finance Minister Heng Swee Keat on Monday (18 Feb). In last year\u2019s budget, the government\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96587,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/nan-fung-prices-new-flats-below-market-rate-as-cooling-measures-threaten-hong-kongs-property-rally\/","url_meta":{"origin":38843,"position":3},"title":"Nan Fung prices new flats below market rate as cooling measures threaten Hong Kong\u2019s property rally","date":"August 24, 2018","format":false,"excerpt":"\r Nan Fung Development has become the second Hong Kong developer to sell new homes below market price as the property market in the world\u2019s least affordable city starts to feel the effects of rising interest rates, cooling measures and a slowing Chinese economy. Housing policies announced by the city\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75681,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/beijings-used-home-buyers-bide-their-time-as-cooling-measures-bring-prices-steadily-down\/","url_meta":{"origin":38843,"position":4},"title":"Beijing\u2019s used-home buyers bide their time as cooling measures bring prices steadily down","date":"January 3, 2018","format":false,"excerpt":"\r Wang Jian, a 29-year-old working for a Beijing technology company, saw his hopes of buying a flat in the capital evaporate overnight when strict new cooling measures left him unable to afford the down payment. 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The Government on Wednesday (15 December) unveiled a package of measures to cool the private residential and HDB resale markets.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/Buildings-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38843"}],"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=38843"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/38843\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=38843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=38843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=38843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}