{"id":74862,"date":"2017-12-19T10:14:15","date_gmt":"2017-12-19T03:14:15","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-too-early-to-worry-of-a-private-home-oversupply\/"},"modified":"2017-12-19T11:03:07","modified_gmt":"2017-12-19T04:03:07","slug":"far-too-early-to-worry-of-a-private-home-oversupply","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-too-early-to-worry-of-a-private-home-oversupply\/","title":{"rendered":"\u201cFar too early\u201d to worry of a private home oversupply"},"content":{"rendered":"


\nDespite the Monetary Authority of Singapore\u2019s (MAS) warning that private home supply may significantly rise over the next few years on the back of the surge in en bloc deals, Maybank Kim Eng believes it is \u201cfar too early\u201d to be worried of a potential oversupply, reported Today Online.
\nThis comes as the redeveloped properties from the en bloc sales would not be entering the market until 2020 to 2021, said Maybank Kim Eng analyst Derrick Heng in a report.
\nHe noted that the average net supply would still not be excessive \u2013 at a little more than 11,000 units per year \u2013 even after taking into account the completion of such projects in three to four years.
\nIn fact, the figure is way lower compared to the 19,500 units added annually from 2014 to 2016 as well as the five-year average absorption rate of 13,200 units.
\n\u201cAs long as home buying sentiment is maintained, we believe fresh inventory from the Government Land Sales (GLS) and en bloc deals done can comfortably be absorbed,\u201d said the report.
\nThe availability of new inventory for sale may also be affected by delays or disputes in the collective sales deal.
\n\u201cThis should keep the supply of unsold units in the market in check,\u201d it added.
\nIn agreeing, JLL national director of research and consultancy Ong Teck Hui noted that instead of worrying of an oversupply, the potential supply coming from the en bloc sale sites sold since mid-2016 should be considered as \u201ctimely\u201d in adding to the recent GLS programmes\u2019 \u201clow\u201d supply.
\nOng revealed that the unsold inventory of new private homes fell by about 50 percent over the last four years \u2013 from over 32,000 units in Q3 2013 to 17,421 units as at Q3 2017.
\n\u201cDeveloper sales volume could end the year at around the 10,500 to 11,000-unit level. If this buying momentum is sustained into 2018 and 2019, the unsold stock of 17,421 units would be depleted in less than two years,\u201d he said.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…\u201cFar too early\u201d to worry of a private home oversupply<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Despite the Monetary Authority of Singapore\u2019s (MAS) warning that private home supply may significantly rise...<\/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-74862","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-jts","jetpack-related-posts":[{"id":72505,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-to-acquire-more-residential-sites\/","url_meta":{"origin":74862,"position":0},"title":"Developers to acquire more residential sites","date":"November 22, 2017","format":false,"excerpt":"\r At least 13 housing site tenders are expected to close for the remainder of the year, reported Singapore Business Review, citing a report from Maybank Kim Eng. These land plots are projected to yield an additional 3,600 dwellings, with most located in the central part of the city-state, said\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":92002,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-stocks-down-4-despite-home-price-rebound\/","url_meta":{"origin":74862,"position":1},"title":"Developer stocks down 4% despite home price rebound","date":"June 21, 2018","format":false,"excerpt":"\r Property developers in Singapore sold fewer homes in the first five months of 2018 compared to last year. Developer stocks in Singapore fell 4.0 percent even as home prices rose by 7.0 percent year-to-date, reported Singapore Business Review citing a Maybank Kim Eng report. Based on Urban Redevelopment Authority\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":90384,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/oxley-leapfrogs-cdl-as-singapores-largest-developer\/","url_meta":{"origin":74862,"position":2},"title":"Oxley leapfrogs CDL as Singapore\u2019s largest developer","date":"June 4, 2018","format":false,"excerpt":"\r Oxley\u2019s executive chairman and CEO Ching Chiat Kwong. Oxley Holdings has surpassed City Developments Limited (CDL) as the city-state\u2019s biggest property developer in terms of the number of sellable homes, reported Singapore Business Review. In fact, Oxley and its joint venture partners are set to build more than 4,000\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":28903,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/gls-bids-rise-amid-strong-demand\/","url_meta":{"origin":74862,"position":3},"title":"GLS bids rise amid strong demand","date":"October 7, 2016","format":false,"excerpt":"\r Fewer Government Land Sales launches this year has contributed to fierce competition among developers and escalating land prices. (Photo: Nikki De Guzman) The number of bids for Government Land Sales (GLS) launches has been on the rise this year amid fierce competition among developers to acquire land sites, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":75257,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-worried-over-rising-land-prices-potential-oversupply-of-houses\/","url_meta":{"origin":74862,"position":4},"title":"Gov\u2019t worried over rising land prices, potential oversupply of houses","date":"December 26, 2017","format":false,"excerpt":"\r View of the land parcel at Fourth Avenue, an 18,532.2 sq m residential site that could yield about 455 houses. The authorities fear that the buying frenzy for en bloc sites and state land would lead to a supply glut of houses and a correction of prices in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":77754,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-expected-to-rise-by-3-10-in-2018\/","url_meta":{"origin":74862,"position":5},"title":"Private home prices expected to rise by 3-10% in 2018","date":"January 23, 2018","format":false,"excerpt":"\r Property prices in Singapore could rise at a median rate of 5.5 percent. Analysts believe Singapore\u2019s private housing market has indeed rebounded, with prices increasing for two straight quarters following a four-year slump. In fact, a Bloomberg survey of 11 property experts revealed that private residential prices here are\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\/74862"}],"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=74862"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/74862\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=74862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=74862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=74862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}