{"id":68246,"date":"2017-10-05T09:45:10","date_gmt":"2017-10-05T02:45:10","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-fast-paced-land-acquisitions-at-higher-prices-not-sustainable\/"},"modified":"2017-10-05T10:04:14","modified_gmt":"2017-10-05T03:04:14","slug":"redas-fast-paced-land-acquisitions-at-higher-prices-not-sustainable","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-fast-paced-land-acquisitions-at-higher-prices-not-sustainable\/","title":{"rendered":"REDAS: Fast-paced land acquisitions at higher prices not sustainable"},"content":{"rendered":"


\nAugustine Tan, President of Redas. (Photo: Far East Organization)
\nWhile 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 sites at higher prices today may not be sustainable, reported Business Times.
\n\u201cWith property measures in place, slow growth in Singapore\u2019s population and manpower curbs, we do not see runaway demand in sales transaction volume and property prices in the next few years,\u201d he said at the Redas Mid-Autumn Festival Lunch.
\nIn fact, he expects many, including the displaced sellers from collective sales, to downgrade to public housing.
\n\u201cHence, if the prevailing \u2018bullish\u2019 appetite for residential land persists while demand (for end units) is not sustained, it will hasten the compounding effects of increasing supply and high vacancy.\u201d He also expects interest rates to continue its increase.
\nDespite the upturn in the Urban Redevelopment Authority\u2019s (URA) private home price index, Tan noted that rents are still falling and new completions are adding to the inventory at a time when multinational companies are downsizing or recruiting at a cautionary pace.
\nVacancy rate also remain high at 8.1 percent as at Q2 2017.
\n\u201cWhile the residential property market appears to be on the mend and developers are aggressively replenishing their land bank to sustain their business, the length and amplitude of this new cycle is uncertain,\u201d concluded Tan.
\nKnight Frank Asia-Pacific president Tan Tiong Cheng described Tan\u2019s speech as a \u201csombre reminder\u201d to the government and potential private home buyers that while \u201cprices seem to have reached an inflexion point, the usual downside risks are still ongoing concerns\u201d.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…REDAS: Fast-paced land acquisitions at higher prices not sustainable<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Augustine Tan, President of Redas. (Photo: Far East Organization) While City Developments and Hong Realty...<\/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-68246","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-hKK","jetpack-related-posts":[{"id":42055,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/augustine-tan-remains-redas-president\/","url_meta":{"origin":68246,"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":60298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-too-soon-to-say-property-market-has-recovered\/","url_meta":{"origin":68246,"position":1},"title":"Redas: Too soon to say property market has recovered","date":"July 10, 2017","format":false,"excerpt":"\r Augustine Tan, President of Redas. (Photo: Far East Organization) Despite 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\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":68246,"position":2},"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":94189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-property-curbs-to-erode-market-confidence-says-redas\/","url_meta":{"origin":68246,"position":3},"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":80971,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/","url_meta":{"origin":68246,"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":34824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/primary-sales-take-up-prices-may-not-be-sustainable\/","url_meta":{"origin":68246,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68246"}],"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=68246"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/68246\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=68246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=68246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=68246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}