{"id":41546,"date":"2017-01-23T10:08:06","date_gmt":"2017-01-23T03:08:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/analysts-expect-more-bulk-sales-this-year\/"},"modified":"2017-01-23T10:12:36","modified_gmt":"2017-01-23T03:12:36","slug":"analysts-expect-more-bulk-sales-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/analysts-expect-more-bulk-sales-this-year\/","title":{"rendered":"Analysts expect more bulk sales this year"},"content":{"rendered":"


\nProperty analysts expect to see more bulk sales deals as developers race to move unsold units to avoid paying the additional buyers\u2019 stamp duty (ABSD) charges and Qualifying Certificate (QC) extension charges this year, reported Today Online.
\nIn fact, developers have been sweetening the deals for prospective home buyers by offering discounts and deferred payment schemes just to offload the units.
\nThe potential charges facing developers were brought into the limelight again following reports that United Overseas Bank chairman emeritus Wee Cho Yaw purchased all 45 units at The Nassim \u2013 via his family\u2019s property arm, Kheng Leong \u2013 for S$411.6 million.
\nWhile the bulk sale represented a discount of around 18 percent, it prevented\u00a0CapitaLand from having to pay substantial QC penalties.
\n\u201cIt will almost certainly likely happen for high-end projects in the Core Central Region (CCR) that have been stuck for a long while with unsold stock. I see an 80 percent chance the bulk sale will happen in CCR projects,\u201d said Ong Kah Seng, director of property market research company R\u2019ST Research.
\n\u201cThere is, however, still a small chance (20 percent) that this can also happen for mid-range or mass-market condo projects because, after all, such properties are way cheaper on a per quantum basis, so it actually makes good sense for developers to have a bulk sale of such low-end and mid-range condos to avoid paying taxes.\u201d
\n\u00a0
\nChristopher Chitty, Senior\u00a0Content Specialist\u00a0at PropertyGuru, edited this story. To contact him about this or other stories, email christopher@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Analysts expect more bulk sales this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Property analysts expect to see more bulk sales deals as developers race to move unsold...<\/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-41546","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-aO6","jetpack-related-posts":[{"id":8203,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-respite-from-mounting-extension-charges-for-developers\/","url_meta":{"origin":41546,"position":0},"title":"No respite from mounting extension charges for developers","date":"March 3, 2016","format":false,"excerpt":"\r Luxury apartments in the Orchard area. (Photo: Cheryl Marie Tay) Property developers forked out $24.9 million in extension fees last year for failing to dispose of all the residential units in their developments within the mandated period, reported The Straits Times. While this is lower than the $29.98 million\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":51196,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/investment-property-sales-down-38-5-in-q1\/","url_meta":{"origin":41546,"position":1},"title":"Investment property sales down 38.5% in Q1","date":"April 7, 2017","format":false,"excerpt":"\r Several bulk residential sales were recorded in Q1 2017 as some foreign developers tried to offload their remaining unsold units to avoid paying hefty penalties. Singapore saw sales of investment properties, or big-ticket property transactions of at least $10 million, drop 38.5 percent to $5.2 billion in Q1 2017,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74302,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/heeton-looks-to-brighter-future-after-paying-22-5mil-in-qc-charges\/","url_meta":{"origin":41546,"position":2},"title":"Heeton looks to brighter future after paying $22.5mil in QC charges","date":"December 12, 2017","format":false,"excerpt":"\r View of iLiv@Grange, a freehold condominium at 74 Grange Road. Heeton Holdings is now on the road to recovery after completely disposing of two housing developments, from which it incurred penalties totalling about $22.5 million for previously failing to sell all units within a specified timeframe, reported the Business\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/primary-sales-take-up-prices-may-not-be-sustainable\/","url_meta":{"origin":41546,"position":3},"title":"Primary sales take-up, prices may not be sustainable","date":"November 18, 2016","format":false,"excerpt":"\r Industry sources have said it is too early to tell if primary property sales take-up and prices will be sustainable. The sustainability of primary sales take-up and prices remain unclear, given the bleak economic outlook and the substantial new supply coming onstream, reported The Business Times, citing the Real\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20908,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-sentiment-continues-to-hurt-spore-property-market\/","url_meta":{"origin":41546,"position":4},"title":"Weak sentiment continues to hurt S\u2019pore property market","date":"July 13, 2016","format":false,"excerpt":"\r Aerial view of high-rise apartment buildings in Singapore. Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes weak market sentiment continues to weigh down on Singapore\u2019s property market, reported The Straits Times. He noted that since the government rolled out a slew of property cooling measures from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22935,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/","url_meta":{"origin":41546,"position":5},"title":"Developer sales more than doubles in July","date":"August 15, 2016","format":false,"excerpt":"\r The Lake Grande project in Jurong sold 464 units last month at a median price of $1,368 psf. (Photo: Christopher Chitty) Sales of new private homes, excluding executive condominiums (ECs), more than doubled to 1,091 units in July, up from 536 units sold in the month before, according to\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\/41546"}],"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=41546"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/41546\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=41546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=41546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=41546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}