{"id":73401,"date":"2017-12-01T10:57:08","date_gmt":"2017-12-01T03:57:08","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-points-to-risks-in-the-singapore-property-market\/"},"modified":"2017-12-01T11:03:20","modified_gmt":"2017-12-01T04:03:20","slug":"mas-points-to-risks-in-the-singapore-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-points-to-risks-in-the-singapore-property-market\/","title":{"rendered":"MAS points to risks in the Singapore property market"},"content":{"rendered":"


\nThe recent surge in collective sales poses potential risks to the stability of the local property sector. Hence, market players should proceed cautiously, according to the 2017 Financial Stability Review (FSR) published by the Monetary Authority of Singapore (MAS) on Thursday, 30 November.
\n\u201c20 residential projects totalling about 2,900 units have been sold through en bloc transactions as of mid-November, up from six in the whole of 2016 and one in 2015. The redevelopment of these en bloc sites (coupled with supply from GLS sites) could potentially add another 20,000 new private housing units. This will more than double the number of unsold units currently in the pipeline within the next one to two years.\u201d
\nGiven that the compound annual growth rate of Singapore\u2019s population has slowed down from three percent between 2007 and 2012 to 1.1 percent in 2012 to 2017 there is considerable uncertainty whether the new supply and the existing vacancies can be fully absorbed by the market.
\nAs of Q3 2017, Singapore\u2019s vacancy level remained elevated at 8.4 percent, with over 30,000 private homes left unoccupied. Although it is slightly lower than the 8.9 percent peak in Q2 2016, it is still higher than the historical average of about 6.5 percent in the past decade.
\nHence, MAS is urging developers to take this into account when bidding for land. Likewise, potential buyers should remain prudent when acquiring homes as there is more than enough supply to meet demand. They should also carefully assess their ability to service their mortgage, particularly property investors, as they could struggle to repay their loans if interest rates rise and vacancy levels remain high.
\nMeanwhile, the central bank revealed that new housing loans have increased to an average of $3.5 billion per month over the first ten months of the year compared to $2.8 billion in the same period in 2016 due to stronger residential sales.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…MAS points to risks in the Singapore property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The recent surge in collective sales poses potential risks to the stability of the local...<\/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-73401","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-j5T","jetpack-related-posts":[{"id":75061,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/news-roundup-december-2017\/","url_meta":{"origin":73401,"position":0},"title":"News Roundup (December 2017)","date":"December 21, 2017","format":false,"excerpt":"\r Our top Singapore property stories. Govt unveils land sales programme for first-half 2018 Six confirmed list and nine reserve list sites will be launched under the H1 2018 Government Land Sales (GLS) programme, the Urban Redevelopment Authority (URA) announced in December. These land parcels could potentially yield approximately 8,045\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2017\/12\/Amber-Park-e1513842219268.jpg?fit=620%2C310&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":71104,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-soars-by-over-4-fold-says-mnd\/","url_meta":{"origin":73401,"position":1},"title":"En bloc sales soars by over 4-fold, says MND","date":"November 7, 2017","format":false,"excerpt":"\r An aerial view of Rio Casa, a 286-unit development at Hougang Avenue 7. (Photo: Knight Frank Singapore) Collective sales have surged from around 600 units for the whole of 2016 to about 2,700 existing private homes so far this year, revealed the Ministry of National Development (MND) during a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":112740,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-cautions-property-buyers-as-number-of-new-launches-racks-up\/","url_meta":{"origin":73401,"position":2},"title":"MAS cautions property buyers as number of new launches racks up","date":"November 29, 2019","format":false,"excerpt":"\r \u00a0 Prospective home buyers should take extra precaution before\u00a0taking a home loan to finance their property purchase, given the economy\u2019s uncertainty and softening labour market, the Monetary Authority of Singapore (MAS) advised in its annual Financial Stability Review that was released 28 November. In the review, the MAS\u00a0made reference\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/11\/condo-sales-q3-2019.png?fit=1150%2C1200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":59228,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/frenzy-in-en-bloc-market-unlikely-to-ensue-experts\/","url_meta":{"origin":73401,"position":3},"title":"Frenzy in en bloc market unlikely to ensue, experts","date":"June 29, 2017","format":false,"excerpt":"\r \u00a0 Despite the pick up in activity within the residential en bloc market, with four collective transactions done so far from last year\u2019s three, property experts believe conditions will not return to the peak of 2007, when immigration and global economic growth fuelled the hike in real estate prices,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-sales-still-rising-already-highest-in-two-years\/","url_meta":{"origin":73401,"position":4},"title":"En bloc sales still rising, already highest in two years","date":"December 11, 2017","format":false,"excerpt":"\r The 37-storey horseshoe-shaped building comprises 280 apartments and eight commercial units. It sits on an 82,376 sq ft site and has a 99-year lease with effect from June 1970. (Photo: Colliers International) The number of collective sales here have already reached the highest in two years, reported the Singapore\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122555,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/holland-hill-lodge-up-for-en-bloc-sale-for-25-8mil\/","url_meta":{"origin":73401,"position":5},"title":"Holland Hill Lodge up for en bloc sale for $25.8mil","date":"October 13, 2021","format":false,"excerpt":"\r Located at 5 Holland Hill, the freehold project, Holland Hill Lodge, occupies a 9,033 sq ft site zoned for Residential use. Holland Hill Lodge, a freehold residential development at 5 Holland Hill, has been put up for en bloc sale via public tender, revealed exclusive marketing agent SRI Capital\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/Holland-Hill-Lodge-Photo.jpg?fit=1200%2C900&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73401"}],"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=73401"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/73401\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=73401"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=73401"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=73401"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}