{"id":60298,"date":"2017-07-10T10:45:40","date_gmt":"2017-07-10T03:45:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-too-soon-to-say-property-market-has-recovered\/"},"modified":"2017-07-10T11:39:15","modified_gmt":"2017-07-10T04:39:15","slug":"redas-too-soon-to-say-property-market-has-recovered","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-too-soon-to-say-property-market-has-recovered\/","title":{"rendered":"Redas: Too soon to say property market has recovered"},"content":{"rendered":"


\nAugustine Tan, President of Redas. (Photo: Far East Organization)
\nDespite signs of the property market picking up, Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes that it is still too early to assume that the market has finally turned positive and recovery has kicked in, reported TODAYonline.
\nThis comes as the city-state\u2019s macroeconomic fundaments are still not strong, while the global economy\u2019s growth remains anaemic amid rising US interest rates and geopolitical risks.
\nTan also pointed to the supply overhang of around 37,000 uncompleted units as at Q1 2017, of which 43 percent remain unsold. He noted that it will take about two years to absorb the existing stock, given the current new private home transaction volume of around 8,000 units in 2016.
\nA potential supply of 8,125 private housing units were also released under the Government Land Sales programme for 2H 2015, while another 5,300 units may come into the market in the event the 25 potential sites for en bloc sales are successfully transacted.
\n\u201cOur concern is if the prevailing \u2018bullish\u2019 appetite for residential land persists amid pending rising interest rate and weak employment prospects, demand will weaken over time and hasten the compounding effects of increasing supply and high vacancy,\u201d said Tan at a property market seminar held last Friday (7 July).
\nIn fact, he expects the record high bids put forward by developers for land to affect future land sales in Singapore, and eventually lead to high house prices.
\n\u201cThe land prices have gone beyond the final product price backed by expectations that markets will improve\u2026 It will certainly drive up housing property prices as developers will expect a decent return. High land price equals high end product prices.\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…Redas: Too soon to say property market has recovered<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Augustine Tan, President of Redas. (Photo: Far East Organization) Despite signs of the property market...<\/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-60298","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-fGy","jetpack-related-posts":[{"id":42055,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/augustine-tan-remains-redas-president\/","url_meta":{"origin":60298,"position":0},"title":"Augustine Tan remains Redas president","date":"January 27, 2017","format":false,"excerpt":"\r Augustine Tan has been re-elected as Redas President for another two-year term. (Photo: Far East Organization) The Real Estate Developers\u2019 Association of Singapore (Redas) on Thursday, 26 January, named Augustine Tan as its President for another two-year term, reported the Business Times. The 58-year-old, who is also Executive Director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68246,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-fast-paced-land-acquisitions-at-higher-prices-not-sustainable\/","url_meta":{"origin":60298,"position":1},"title":"REDAS: Fast-paced land acquisitions at higher prices not sustainable","date":"October 5, 2017","format":false,"excerpt":"\r Augustine Tan, President of Redas. (Photo: Far East Organization) While City Developments and Hong Realty acquired Amber Park for a record $1,515 per square foot per plot ratio, Real Estate Developers\u2019 Association of Singapore (Redas) president Augustine Tan warned that the fast rate by which developers acquire private residential\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-property-curbs-to-erode-market-confidence-says-redas\/","url_meta":{"origin":60298,"position":2},"title":"New property curbs to erode market confidence, says REDAS","date":"July 18, 2018","format":false,"excerpt":"\r The new property curbs are a \u201cbig setback\u201d for Singapore\u2019s property sector, according to the Real Estate Developers\u2019 Association of Singapore (REDAS) in a report by the Business Times. These new cooling measures will impact the confidence of property developers, investors and home buyers, said REDAS President Augustine Tan.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103066,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-names-cdl-group-general-manager-as-new-president\/","url_meta":{"origin":60298,"position":3},"title":"REDAS names CDL group general manager as new president","date":"January 18, 2019","format":false,"excerpt":"\r Augustine Tan will be stepping down as president of REDAS. (Photo: Far East Organization) The Real Estate Developers\u2019 Association of Singapore (REDAS) has named Chia Ngiang Hong, group general manager at City Developments Limited (CDL), as its new president for the 2019\/2020 term, reported the Business Times. He will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":80971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/","url_meta":{"origin":60298,"position":4},"title":"Buyer\u2019s stamp duty hike unlikely to hinder housing market recovery","date":"February 26, 2018","format":false,"excerpt":"\r REDAS President Augustine Tan. The Real Estate Developers\u2019 Association of Singapore (REDAS) believes that the hike in buyer\u2019s stamp duty (BSD) is unlikely to jeopardise the recovery of the city-state\u2019s private housing market, reported the Business Times. \u201cThe property market is in the early stages of a recovery and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":98205,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-work-harder-and-take-more-prudent-approach-amidst-property-curbs\/","url_meta":{"origin":60298,"position":5},"title":"Developers work harder and take more prudent approach amidst property curbs","date":"September 20, 2018","format":false,"excerpt":"\r It could take several years for the market to absorb the pipeline supply of private homes. The government\u2019s latest property cooling measures made it harder for developers to offload the nearly 46,000 private residential units expected to come onstream in 2019 and 2020, said Augustine Tan, president of the\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\/60298"}],"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=60298"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/60298\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=60298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=60298"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=60298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}