{"id":64958,"date":"2017-08-30T11:05:40","date_gmt":"2017-08-30T04:05:40","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-market-rebound-fuelled-by-local-demand\/"},"modified":"2017-08-30T11:09:33","modified_gmt":"2017-08-30T04:09:33","slug":"housing-market-rebound-fuelled-by-local-demand","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-market-rebound-fuelled-by-local-demand\/","title":{"rendered":"Housing market rebound fuelled by local demand"},"content":{"rendered":"


\nSingaporeans account for close to 80 percent of private home buyers here.
\nLocal buyers have been driving Singapore\u2019s resurging residential property market, accounting for 77.6 percent of private home buyers during the first seven months of 2017, reported the Straits Times.
\nThe figure is an improvement from last year\u2019s 74.4 percent.
\nSEE ALSO: Property market upturn on the horizon
\nUrban Redevelopment Authority (URA) data showed that new and resale private homes sales jumped 56 percent to 10,565 units in the first seven months of the year from 6,785 units over the same period last year.
\n\u201cPrivate home transaction volume so far this year has reached one of the highest levels since 2013 when mortgage rules were tightened through the introduction of the Total Debt Servicing Ratio (TDSR) framework,\u201d said ZACD Group executive director Nicholas Mak.
\nThe rally, however, has been fuelled by locals instead of foreigners.
\nIn fact, the proportion of foreigners including permanent residents (PRs) and non-PRs buying property fell to 22.4 percent from around 26 percent in 2016.
\nSingapore\u2019s stringent stamp duties have dampened speculative overseas demand, with foreign buyers making up just six percent of acquisitions during the first half of the year, down from nine percent in 2013, showed Cushman & Wakefield data.
\nChristine Li, research director at Cushman & Wakefield, attributed the strong buying from locals to demand from HDB and Build-To-Order upgraders who are taking advantage of the low interest rate environment.
\nDemand is expected to increase further as more en bloc sales enter the market.
\nBut while Ku Swee Yong, chief executive officer of International Property Advisor, acknowledged that home sales, especially that from new launches, have increased, he warned that \u201cthere is still pain in the market\u201d.
\n\u201cIn the first quarter this year, 21 percent of resales of private non-landed homes were transacted at a loss.\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…Housing market rebound fuelled by local demand<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Singaporeans account for close to 80 percent of private home buyers here. Local buyers have...<\/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-64958","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-gTI","jetpack-related-posts":[{"id":87883,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-snap-up-all-188-units-at-new-tuen-mun-development-raising-hk1-1-billion-for-hong-kongs-sun-hung-kai-properties\/","url_meta":{"origin":64958,"position":0},"title":"Buyers snap up all 188 units at new Tuen Mun development, raising HK$1.1 billion for Hong Kong\u2019s Sun Hung Kai Properties","date":"May 12, 2018","format":false,"excerpt":"\r Buyers snapped up all available units on sale at a new Tuen Mun property development on Saturday, as demand for new homes remain high. Over 1,000 buyers lined up to purchase 188 flats at Sun Hung Kai Properties\u2019 Mount Regency Tuen Mun development on Saturday, the city\u2019s first new\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":145604,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-village-omokoroa-new-commercial-units-offer-buyers-stake-in-bay-boom-town\/","url_meta":{"origin":64958,"position":1},"title":"The Village \u014cmokoroa: New commercial units offer buyers stake in Bay boom town","date":"July 4, 2024","format":false,"excerpt":"\r Units are for sale at \u014cmokoroa's The Village.\r \r Source : nzherald.co.nz\/Property\r Read more...The Village \u014cmokoroa: New commercial units offer buyers stake in Bay boom town","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37158,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow\/","url_meta":{"origin":64958,"position":2},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. (Photo: Christopher Chitty) The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in Q3 2016, revealed a report from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":156968,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dubai-real-estate-property-giant-binghatti-allocates-10-of-units-for-first-time-buyers\/","url_meta":{"origin":64958,"position":3},"title":"Dubai real estate: Property giant Binghatti allocates 10% of units for first-time buyers","date":"July 4, 2025","format":false,"excerpt":"\r Binghatti will offer discounts on selected properties to first-time buyers, with incentives tailored for Emiratis and expats, as well as discounted administrative service fees\r \r Source : arabianbusiness.com\r Read more...Dubai real estate: Property giant Binghatti allocates 10% of units for first-time buyers","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/07\/Binghatti-First-Time-Home-Buyers-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":47817,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/ballot-for-auckland-buyers-to-get-450k-units\/","url_meta":{"origin":64958,"position":4},"title":"Ballot for Auckland buyers to get $450K units","date":"March 13, 2017","format":false,"excerpt":"\r In a sign of Auckland's heated housing market, a ballot is being run to sell five $450,000 one-bedroom planned Auckland apartments after unprecedented demand prompted the developer decided on the unusual system.Helen O'Sullivan,...\r \r Source : nzherald.co.nz\/Property\r Read more...Ballot for Auckland buyers to get 0K units","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37211,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/demand-from-singaporean-home-buyers-continues-to-grow-2\/","url_meta":{"origin":64958,"position":5},"title":"Demand from Singaporean home buyers continues to grow","date":"December 6, 2016","format":false,"excerpt":"\r A stronger resale market overall Lake Grande in Jurong was the most popular project among Singaporeans in Q3, with 441 units sold to local buyers. Image credit: Christopher Chitty The residential market is seeing growing demand from local buyers, who accounted for around 76 percent of home sales in\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\/64958"}],"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=64958"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/64958\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=64958"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=64958"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=64958"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}