{"id":61846,"date":"2017-07-26T10:06:34","date_gmt":"2017-07-26T03:06:34","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/too-soon-to-say-property-market-has-recovered\/"},"modified":"2017-07-26T10:10:11","modified_gmt":"2017-07-26T03:10:11","slug":"too-soon-to-say-property-market-has-recovered","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/too-soon-to-say-property-market-has-recovered\/","title":{"rendered":"Too soon to say property market has recovered"},"content":{"rendered":"


\nAerial view of high-rise apartment buildings in Singapore.
\nDespite the resurgence in private home sales, analysts believe it is still premature to say that the property market has turned around, reported the Straits Times.
\nHoi Hup Realty sold all its 531 units at Hundred Palms Residences EC within seven hours of the project\u2019s launch on Saturday (22 July) \u2013 a feat last seen in 2014 with mixed development The Hillford in the Bukit Timah area, while GuocoLand moved 90 out of the 450 units at its luxury condo project Martin Modern in Martin Place over the weekend.
\n\u201cThe good performances of recent launches indicate that there is pent-up demand for Singapore properties\u2026 (But) prices have stubbornly continued to decline. So, it might be too soon to say that the market has finally turned a corner,\u201d said OrangeTee\u2019s head of research and consultancy Wong Xian Yang.
\nPrivate homes prices dropped over the past three years, albeit the pace has been slowing, with prices falling 3.1 percent last year following declines of 3.7 percent in 2015 and four percent in 2014.
\nBased on the government\u2019s latest flash estimates, private home values declined by 0.3 percent quarter-on-quarter in Q2 2017, a slight moderation from the 0.4 percent quarter-on-quarter drop registered in Q1 2017.
\nThe easing of prices has led to an increase in sales.
\nIn the first half of 2017, over 6,500 new private homes, excluding ECs, were sold, up 72 percent from the 3,814 units sold in the previous year.
\nBut while analysts expect continued brisk buying activity, they underscored that demand will be driven by site attributes and not all projects would be a sell-out.
\n\u201cNew launches are selling well mainly because of marketing hype\u2026 If the property market was so hot, why are we not getting lots of viewings for resale homes?\u201d said Ku Swee Yong, chief executive officer of International Property Advisor.
\n\u201cPrices in the secondary market are still weak; many owners are selling at losses,\u201d he added.
\n\u00a0<\/p>\n

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Too soon to say property market has recovered<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Aerial view of high-rise apartment buildings in Singapore. Despite the resurgence in private home sales,...<\/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-61846","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-g5w","jetpack-related-posts":[{"id":61680,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/90-units-at-martin-modern-sold-amounting-to-220m\/","url_meta":{"origin":61846,"position":0},"title":"90 units at Martin Modern sold amounting to $220m","date":"July 25, 2017","format":false,"excerpt":"\r First phase of Martin Modern condo sold out. (Photo: GuocoLand Singapore) The official launch of Martin Modern last weekend (22-23 July) saw close to 90 units sold at a total value of more than $220 million, said developer GuocoLand. Although more than 2,000 people visited the luxury condominium\u2019s showflat\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52814,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/guocoland-to-launch-martin-modern-in-second-half-of-2017\/","url_meta":{"origin":61846,"position":1},"title":"GuocoLand to launch Martin Modern in second half of 2017","date":"April 25, 2017","format":false,"excerpt":"\r More than 80 percent of the Martin Modern site will be turned into a botanic garden. Image source: GuocoLand Property developer GuocoLand is targeting to launch Martin Modern, a new luxury condominium in District 9, in the second half of this year. Located at the corner of Martin Place\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":91224,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/increased-activity-in-luxury-condo-market\/","url_meta":{"origin":61846,"position":2},"title":"Increased activity in luxury condo market","date":"June 12, 2018","format":false,"excerpt":"\r View of luxury apartments in Singapore. The luxury private condominium segment has sprung back to life over the past few months, with the price quantum almost hitting a nine-year high when a total of 22 units were snapped up for at least $10 million each during the first quarter,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120620,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/resale-private-home-transactions-rose-6-5-in-q1\/","url_meta":{"origin":61846,"position":3},"title":"Resale private home transactions rose 6.5% in Q1","date":"June 18, 2021","format":false,"excerpt":"\r Resale private home transactions rose 6.5% in Q14,607 units were sold during the first quarter of 2021, with demand likely spurred on due to COVID-19 construction delays. Savills Singapore data showed that the number of private homes sold in the secondary market increased 6.5% quarter-on-quarter to 4,607 units during\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/06\/HDB-flat-Singapore.jpg?fit=820%2C411&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":63788,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/surging-developer-sales-point-to-further-property-market-recovery\/","url_meta":{"origin":61846,"position":4},"title":"Surging developer sales point to further property market recovery","date":"August 16, 2017","format":false,"excerpt":"\r View of private homes in Singapore. Sales of new private homes in Singapore, including executive condominium (EC) units, almost doubled to 2,086 units in July from 1,064 units in the previous month, data released on Tuesday (15 August) by the Urban Redevelopment Authority showed. For the first seven months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37324,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/7-upcoming-projects-to-look-out-for-in-2017\/","url_meta":{"origin":61846,"position":5},"title":"7 upcoming projects to look out for in 2017","date":"December 7, 2016","format":false,"excerpt":"\r Aerial view of the Clementi Avenue 1 site. Source: URA A slew of new residential projects are set to launch next year, and are expected to attract keen interest from home buyers. Some sites to watch out for are: 1) Siglap Road The 1.93ha site at Siglap Road was\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\/61846"}],"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=61846"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/61846\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=61846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=61846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=61846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}