{"id":40874,"date":"2017-01-17T10:11:57","date_gmt":"2017-01-17T03:11:57","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-stabilising-says-mas-chief\/"},"modified":"2017-01-17T10:18:00","modified_gmt":"2017-01-17T03:18:00","slug":"property-market-stabilising-says-mas-chief","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-stabilising-says-mas-chief\/","title":{"rendered":"Property market stabilising, says MAS chief"},"content":{"rendered":"


\nProperty prices in Singapore surged from 2009 to 2013, but have fallen by around 11 percent since then.
\nThe 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.
\nFrom 2009 to 2013, property prices here soared by over 60 percent, on the back of record low global interest rates and quantitative easing in developed countries following the Global Financial Crisis, even as the government introduced a slew of cooling measures to prevent a bubble.
\nWith the measures, the property price index dropped by around 11 percent from its peak in Q3 2013 through end-2016, revealed Deutsche Bank data. Occupancy rate for residential units also fell from 95 percent in 2009 to 90.8 percent last year.
\n\u201cThe measures that have been taken have \u2014 with each passing month and quarter I think we can say with a little more confidence \u2014 made a fair amount of progress towards stabilising the market,\u201d said Ravi Menon, Managing Director of the Monetary Authority of Singapore (MAS), at the UBS Wealth Insights conference on Monday (16 January).
\n\u201c(Policymakers) are very conscious, deeply conscious, that we don\u2019t go back to the situation that we had before, because a bubble is an extremely difficult thing to deflate gently,\u201d he said.
\nSingapore saw its property bubble burst during the Asian Financial Crisis in the late 1990s. Based on the government\u2019s property price index, private home prices only returned to their 1996 peak level in 2009.
\n\u201cI think we\u2019ve been very lucky. We don\u2019t want to go back to that situation,\u201d said Menon. \u201cIt\u2019s a very careful balance. There are many mixed signals.\u201d
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Property market stabilising, says MAS chief<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Property prices in Singapore surged from 2009 to 2013, but have fallen by around 11...<\/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-40874","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-aDg","jetpack-related-posts":[{"id":20856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-time-yet-to-lift-property-cooling-measures-mas\/","url_meta":{"origin":40874,"position":0},"title":"Not time yet to lift property cooling measures: MAS","date":"July 26, 2016","format":false,"excerpt":"\r Singapore\u2019s property cooling measures won\u2019t be removed anytime soon. 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 in stabilising the property market and restoring household debt sustainability,\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21108,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-singapores-property-cooling-measures-wont-be-removed-anytime-soon\/","url_meta":{"origin":40874,"position":1},"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":135892,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-house-price-drops-expected-despite-signs-of-market-stabilising\/","url_meta":{"origin":40874,"position":2},"title":"More house price drops expected despite signs of market stabilising","date":"April 13, 2023","format":false,"excerpt":"\r Rics monthly poll shows new buyer inquiries in UK are flat as volume of agreed sales falls furtherUK house prices are expected to continue to fall despite surveyors\u2019 expectations that the housing market will stabilise over the next 12 months, a study has shown.The Royal Institution of Chartered Surveyors\u2019\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":148163,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinas-new-home-prices-slow-11-month-decline-after-support-measures-kick-in\/","url_meta":{"origin":40874,"position":3},"title":"China\u2019s new home prices slow 11-month decline after support measures kick in","date":"November 15, 2024","format":false,"excerpt":"\r Prices across 70 cities fell for the 11th month in October, but at a slower pace, suggesting support measures may be stabilising the market.\r \r Source : South China Morning Post\r Read more...China\u2019s new home prices slow 11-month decline after support measures kick in","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":87537,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-house-prices-falling-but-overall-market-is-stabilising-survey-finds\/","url_meta":{"origin":40874,"position":4},"title":"London house prices falling but overall market is stabilising, survey finds","date":"May 10, 2018","format":false,"excerpt":"\r \r \r Source : telegraph.co.uk\r Read more...London house prices falling but overall market is stabilising, survey finds","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106167,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-prime-residential-properties-going-up-for-auction\/","url_meta":{"origin":40874,"position":5},"title":"More prime residential properties going up for auction","date":"April 17, 2019","format":false,"excerpt":"\r The hike in mortgagee listings for residential properties was attributed to higher interest rates, last year\u2019s cooling measures and the subdued rental market. The number of residential properties from prime districts 9, 10 and 11 that were listed under mortgagee sale rose 53.8 percent quarter-on-quarter, or 233.3 percent year-on-year\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\/40874"}],"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=40874"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/40874\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=40874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=40874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=40874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}