{"id":71713,"date":"2017-11-14T11:26:06","date_gmt":"2017-11-14T04:26:06","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/rosy-outlook-for-residential-market\/"},"modified":"2017-11-14T12:05:16","modified_gmt":"2017-11-14T05:05:16","slug":"rosy-outlook-for-residential-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rosy-outlook-for-residential-market\/","title":{"rendered":"Rosy outlook for residential market"},"content":{"rendered":"


\nThe outlook for Singapore\u2019s housing market appears bright, according to an article written by Cushman & Wakefield Singapore\u2019s Research Head Christine Li that was posted on TODAYonline.
\nOne main factor fuelling this positive sentiment is the hot en bloc sector, where a total of 18 housing projects collectively worth $6.34 billion have been sold so far this year to reach a 10-year high in terms of value.
\n\u201cThis en bloc wave will result in an additional 9,300 new homes injected into the market, going by estimates from the Urban Redevelopment Authority (URA),\u201d she said.
\nThe vibrant situation is also spurring more homeowners to pull their units from the resale market in an attempt to join in the en bloc frenzy.
\n\u201cEven those with little chance of success are also trying their luck. As a result, there is now a shortage of resale properties on the market \u2014 a turnaround from the situation at this time last year, when there were too many (units). This lack of supply will stoke demand and prop up the market.\u201d
\nThe housing market\u2019s promising prospects is also driven by the dwindling supply of units being sold by property developers.
\n\u201cOur analysis shows that the market has remained in the oversold domain for three consecutive months, with the ratio of units sold over units launched exceeding 100 percent.\u201d
\n\u201cIn fact, this ratio reached an all-time high of 225 percent in the third quarter this year, indicating that developers are selling units faster than they can replenish.\u201d
\nHence, home builders will need to acquire land for their future residential projects, otherwise, they would have nothing to sell. Li estimates that there are about 10 developers in need of land despite the strong en bloc sales market.
\n\u201cAs such, we expect the en bloc market to be sustained over the next 12 to 18 months or so, with potentially another 10 to15 sites being transacted during this period.\u201d
\nFurthermore, transactions in the primary housing market could be propelled by a sharp rise in the number of HDB upgraders who have just met the Minimum Occupation Period (MOP) of five years.
\n\u201cBased on our estimate, there are around 19,000 of them this year and a further 13,000 next year, a marked improvement from the previous years,\u201d Li added.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Rosy outlook for residential market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The outlook for Singapore\u2019s housing market appears bright, according to an article written by Cushman...<\/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-71713","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-iEF","jetpack-related-posts":[{"id":84982,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-en-bloc-appetite-diminishing-rhb\/","url_meta":{"origin":71713,"position":0},"title":"Developers\u2019 en bloc appetite diminishing: RHB","date":"April 11, 2018","format":false,"excerpt":"\r Developers are paying smaller premiums and becoming more selective when it comes to purchasing en bloc sites, said RHB\u2019s analyst. RHB revealed on Tuesday (10 Apr) that property developers are now paying smaller premiums for Singapore en bloc sites, indicating that their appetite for such land is diminishing, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-unsold-units-at-seven-year-low-in-q3-2017\/","url_meta":{"origin":71713,"position":1},"title":"Singapore\u2019s unsold units at seven-year low in Q3 2017","date":"January 9, 2018","format":false,"excerpt":"\r With the improved buyer sentiment over the recent months, unsold home inventory in Singapore fell to a seven-year low at 16,031 units during the third quarter of 2017, reported Singapore Business Review citing Jefferies Singapore Limited. Total transactions volumes, on the other hand, rose 54 percent year-on-year in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":72653,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-november-2017\/","url_meta":{"origin":71713,"position":2},"title":"News Roundup (November 2017)","date":"November 23, 2017","format":false,"excerpt":"\r Our top Singapore property stories. Supply of private homes to soar over next 2 years The supply of private homes available for sale in Singapore is expected to surge by over two-fold in the next one to two years, National Development Minister Lawrence Wong revealed recently. According to a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/11\/Asia-Property-Awards-Singapore-Guocoland.jpg?fit=609%2C406&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":75058,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-predictions-for-2018\/","url_meta":{"origin":71713,"position":3},"title":"Property predictions for 2018","date":"December 21, 2017","format":false,"excerpt":"\r Private housing prices are likely to rise further in 2018, say analysts. Experts discuss the outlook for the residential market in Singapore. By Romesh Navaratnarajah With around 10,000 completed private homes and up to 22 major new launches expected next year, 2018 is shaping up as the year to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":64958,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/housing-market-rebound-fuelled-by-local-demand\/","url_meta":{"origin":71713,"position":4},"title":"Housing market rebound fuelled by local demand","date":"August 30, 2017","format":false,"excerpt":"\r Singaporeans account for close to 80 percent of private home buyers here. Local 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. The figure is an improvement from last year\u2019s\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-expected-to-slump-by-20-in-2019-dbs\/","url_meta":{"origin":71713,"position":5},"title":"New private home sales expected to slump by 20% in 2019: DBS","date":"January 8, 2019","format":false,"excerpt":"\r Property cooling measures introduced last year have contributed to a slowdown in sales momentum. New private home sales in Singapore is forecasted to decline by about 20 percent year-on-year to 7,500 to 8,500 units for the whole of 2019, while prices of such properties could drop by up to\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\/71713"}],"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=71713"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71713\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}