{"id":71861,"date":"2017-11-15T09:40:36","date_gmt":"2017-11-15T02:40:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-of-private-homes-to-soar-over-next-2-years\/"},"modified":"2017-11-15T10:02:48","modified_gmt":"2017-11-15T03:02:48","slug":"supply-of-private-homes-to-soar-over-next-2-years","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-of-private-homes-to-soar-over-next-2-years\/","title":{"rendered":"Supply of private homes to soar over next 2 years"},"content":{"rendered":"


\nThe supply of private houses available for sale in Singapore is expected to surge by over two-fold in the next one to two years, revealed Minister for National Development Lawrence Wong on Tuesday (14 November).
\nIn a report by the Business Times, he said most of the housing pipeline will come from redevelopment projects built on sites acquired via en bloc sales, in addition to residential plots acquired by developers through the Government Land Sales (GLS) programme.
\nThis means there is ample supply to meet demand, so Singaporeans are advised to \u201cdo their homework carefully\u201d before buying a residential property.
\nFor instance, Wong noted that the overall vacancy rate for private houses here has surpassed eight percent for nearly two years at a current rate of 8.4 percent. The last time that such figure had remained at this high level was in 2005.
\n\u201cWhat this means is that, in terms of actual physical units, there are currently more than 30,000 vacant private housing units \u2014 all still looking for occupants. To put things in perspective, this is more than the total number of dwellings in the whole of Bishan today.\u201d
\nHe said this during the 58th anniversary dinner of the Real Estate Developers\u2019 Association of Singapore (REDAS), where he reiterated a warning to developers regarding their high land bids.
\nWong believes that such high cost might force home builders to cut corners on the quality of their residential units in order to recoup their large expenses.
\n\u201cFrom time to time, we do get feedback about developers who do not meet the quality standards we expect of them.\u201d
\nAs such, the authorities are looking to impose more measures to compel property developers with \u201cpoor track record\u201d to follow higher standards of quality.
\n\u201cFor example, we may impose a licence condition for them to obtain Quality Mark certification for their projects. We may even disallow these developers from launching units for sale until we can be certain that they are committed to meeting these standards.\u201d
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Supply of private homes to soar over next 2 years<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The supply of private houses available for sale in Singapore is expected to surge by...<\/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-71861","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-iH3","jetpack-related-posts":[{"id":72653,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-november-2017\/","url_meta":{"origin":71861,"position":0},"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":101328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-averted-a-10-15-growth-in-home-prices\/","url_meta":{"origin":71861,"position":1},"title":"Property cooling measures averted a 10-15% growth in home prices","date":"November 16, 2018","format":false,"excerpt":"\r National Development Minister Lawrence Wong clarified that the government wants to stabilise the property market so that prices may move broadly in line with income growth. While developers may want a \u201ccomplete laissez faire situation\u201d of allowing \u201cthe market to run its own course\u201d, the government cannot take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112208,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-remain-upbeat-despite-2020-absd-deadline\/","url_meta":{"origin":71861,"position":2},"title":"Developers remain upbeat despite 2020 ABSD deadline","date":"November 8, 2019","format":false,"excerpt":"\r While the seven projects still have a total of 95 unsold units, most have already moved more than 90% of their inventory as at end-September. Developers of seven housing projects are confident of beating the 2020 additional buyer\u2019s stamp duty (ABSD) deadline, on the back of robust demand and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119884,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/consortium-wins-development-rights-to-mtrs-wong-chuk-hang-residential-project-at-a-lower-premium-than-earlier-phase\/","url_meta":{"origin":71861,"position":3},"title":"Consortium wins development rights to MTR\u2019s Wong Chuk Hang residential project at a lower premium than earlier phase","date":"January 27, 2021","format":false,"excerpt":"\r A consortium of four Hong Kong developers has won the development rights for the latest residential project at Wong Chuk Hang MTR station, which has been acquired at a lower premium than the previous phase.Kayson Limited, comprising New World Development, Empire Group, Lai Sun Development and CSI Properties, won\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8152,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/wandervales-sales-outperform-ec-launches-in-2015\/","url_meta":{"origin":71861,"position":4},"title":"Wandervale\u2019s sales outperform EC launches in 2015","date":"March 11, 2016","format":false,"excerpt":"\r Prospective buyers looking at a model of Wandervale. (Photo: Sim Lian Group) The 534-unit Wandervale project in Choa Chu Kang, the first executive condominium (EC) to launch in 2016, has beaten market expectations after its developer managed to sell 50 percent of the units last weekend. \u201cDespite tepid market\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/Performance-of-EC-projects.png?fit=499%2C317&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":101490,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/non-consenting-owners-of-en-bloc-properties-still-have-to-pay-stamp-duty-wong\/","url_meta":{"origin":71861,"position":5},"title":"Non-consenting owners of en bloc properties still have to pay stamp duty: Wong","date":"November 21, 2018","format":false,"excerpt":"\r Minister Lawrence Wong was responding to a query on whether the seller\u2019s stamp duty is waived for those who do not sign the collective sale agreement. (Photo: Wikimedia Commons) Homeowners who opposed the collective sale of a private residential development are still required to pay the seller\u2019s stamp duty\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\/71861"}],"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=71861"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/71861\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=71861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=71861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=71861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}