{"id":62298,"date":"2017-07-31T10:08:19","date_gmt":"2017-07-31T03:08:19","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/analyst-people-are-buying-because-of-bad-economy\/"},"modified":"2017-07-31T10:09:34","modified_gmt":"2017-07-31T03:09:34","slug":"analyst-people-are-buying-because-of-bad-economy","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/analyst-people-are-buying-because-of-bad-economy\/","title":{"rendered":"Analyst: People are buying because of bad economy"},"content":{"rendered":"


\nBuyers and investors continue to put their faith in brick and mortar, says one analyst.
\nAside from the belief that the property market is bottoming out, the city-state\u2019s uncertain economy has seen investors turning to residential property.
\n\u201cThis may sound counter-intuitive, (but) people are buying because the economy is bad,\u201d said Savills Research Head Alan Cheong. \u201cPeople are buying now because they have lost a little bit of faith in what are alternative investments, and so they are putting their faith in brick and mortar.\u201d
\nData from the Urban Redevelopment Authority shows that sales of new private homes, excluding executive condominiums (ECs), jumped by around 64 percent year-on-year to 6,039 units in H1 2017, reported Channel NewsAsia.
\nIn fact, this year\u2019s new project launches and showflats have drawn huge crowds while registering strong sales figures.
\nWith prices on the downtrend for the last 15 quarters, most buyers are lured by the \u201cfairly attractive prices\u201d of units and \u201chope to take advantage before the market turns around\u201d, said JLL National Director of Research & Consultancy Ong Teck Hui.
\nThe attractive offers for en bloc sales sites and the aggressive bidding of developers for government land also led buyers to believe that prices will increase in 2018.
\nLooking ahead, Cheong expects upcoming launches for the rest of 2017 to do well, with private residential sales reaching between 11,000 and 12,000 units this year.
\nBut while he expects the positive buying sentiment to continue in 2018, he does not believe that sales will increase beyond this year.
\n\u201cIt all depends on the Government Land Sales programme next year, and also the collective sales sites \u2013 when they get launched in 2018. If some get deferred to 2019, and if we don\u2019t have new supply, then primary sales numbers will also come down.\u201d
\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…Analyst: People are buying because of bad economy<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Buyers and investors continue to put their faith in brick and mortar, says one analyst....<\/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-62298","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-gcO","jetpack-related-posts":[{"id":60398,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-closer-look-at-traditional-brick-and-mortar-retails-property-assets\/","url_meta":{"origin":62298,"position":0},"title":"A closer look at traditional brick-and-mortar retail's property assets","date":"July 11, 2017","format":false,"excerpt":"\r Retailers aren't doing enough to help investors understand the value of their real estate portfolio, says Jim Sullivan of Green Street Advisors.\r \r Source : cnbc.com\r Read more...A closer look at traditional brick-and-mortar retail's property assets","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":25055,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/london-housing-why-hong-kong-cash-in-colindale-is-not-all-bad\/","url_meta":{"origin":62298,"position":1},"title":"London housing: why Hong Kong cash in Colindale is not all bad","date":"September 5, 2016","format":false,"excerpt":"\r Some may be alarmed that foreign investors are now buying new housing in the suburbs as well as the centre, but opposition to them is simplisticLondoners, Labour politicians and left-leaning journalists often blame rich foreigners for high housing prices in the capital. 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