{"id":75257,"date":"2017-12-26T10:59:20","date_gmt":"2017-12-26T03:59:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-worried-over-rising-land-prices-potential-oversupply-of-houses\/"},"modified":"2017-12-26T11:03:51","modified_gmt":"2017-12-26T04:03:51","slug":"govt-worried-over-rising-land-prices-potential-oversupply-of-houses","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-worried-over-rising-land-prices-potential-oversupply-of-houses\/","title":{"rendered":"Gov\u2019t worried over rising land prices, potential oversupply of houses"},"content":{"rendered":"


\nView of the land parcel at Fourth Avenue, an 18,532.2 sq m residential site that could yield about 455 houses.
\nThe 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 future. This would not only derail the residential market\u2019s recovery, but also lead to losses for developers that paid record sums to acquire housing sites.
\n\u201cThe government is concerned about the manner and speed with which land prices are rising,\u201d CBRE\u2019s Research Head Desmond Sim told Reuters.
\nIn fact, home builders paid an average premium of 22 percent for the top five residential sites sold this year versus similar land parcels in the past, revealed a November report by Cushman & Wakefield.
\nPreviously, the Monetary Authority of Singapore (MAS) warned property players last month to exercise prudence when buying land.
\nThis is because the redevelopment of the 20 en bloc sites sold as of mid-November, coupled with government land sales, could potentially add another 20,000 new private houses. This could more than double the number of unsold units currently in the pipeline within the next one to two years.
\nGiven that the 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 can be fully absorbed by the market. This is amid an elevated vacancy level of 8.4 percent, with about 30,000 private homes left unoccupied as of the third quarter.
\n\u00a0
\nThis article was edited by Keshia Faculin.
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Gov\u2019t worried over rising land prices, potential oversupply of houses<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of the land parcel at Fourth Avenue, an 18,532.2 sq m residential site that...<\/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-75257","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-jzP","jetpack-related-posts":[{"id":8198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-land-prices-down-5-8-in-2015\/","url_meta":{"origin":75257,"position":0},"title":"Residential land prices down 5.8% in 2015","date":"March 4, 2016","format":false,"excerpt":"\r \u00a0A land parcel in Singapore. (Photo: Nikki De Guzman) The price of land sites in Singapore for prime residential and office projects did not change in the second half of 2015, according to Knight Frank\u2019s latest Prime Asia Development Land Index. But for the entire year, residential land prices\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/Land-price-index-346x1024.jpg?fit=346%2C1024&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":65464,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-developers-ramp-up-landbanking-activity\/","url_meta":{"origin":75257,"position":1},"title":"Singapore developers ramp up landbanking activity","date":"September 5, 2017","format":false,"excerpt":"\r View of a Government Land Sales site in Singapore. (Photo: Nikki De Guzman) Seven of the top 10 developers with the biggest residential landbank and unsold units in launched projects are local developers, according to the Business Times\u2019 compilation of developers. This comes as Singapore developers came out strong\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":79198,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-soared-in-2017\/","url_meta":{"origin":75257,"position":2},"title":"Residential investment sales soared in 2017","date":"February 7, 2018","format":false,"excerpt":"\r Singapore investment sales surged by 119 percent to $21.7 billion for the whole of 2017. Residential investment sales in Singapore rose sharply by 184 percent year-on-year to $8.3 billion last quarter and surged by 119 percent to $21.7 billion for the whole of 2017, according to a new report\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":81660,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/expected-home-price-hike-driven-by-record-land-sales\/","url_meta":{"origin":75257,"position":3},"title":"Expected home price hike driven by record land sales","date":"March 2, 2018","format":false,"excerpt":"\r Record bids for land sites in Singapore are expected to drive future prices of private homes. Private home prices in Singapore are anticipated to rise further in the future on the back of record sums offered by developers for government land and en bloc sites, according to Knight Frank\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":71705,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/land-sales-to-hit-14b-a-sign-of-property-market-resurgence\/","url_meta":{"origin":75257,"position":4},"title":"Land sales to hit $14b, a sign of property market resurgence","date":"November 14, 2017","format":false,"excerpt":"\r Pearlbank Apartments in Outram is a 37-storey horse-shoe shaped building that comprises 280 apartments and eight commercial units. (Photo: Colliers International) More than $3.3 billion worth of land deals, including en bloc sales, are expected to be completed in Singapore during this quarter, boosting the total for the whole\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":58796,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/government-allocates-three-residental-land-sites-for-tender-in-july-to-sept-quarter-with-potential-for-1350-flats\/","url_meta":{"origin":75257,"position":5},"title":"Government allocates three residental land sites for tender in July to Sept quarter, with potential for 1,350 flats","date":"June 23, 2017","format":false,"excerpt":"\r The land supply for the three months to September will be sufficient to build 6,730 flats, about 27 per cent fewer than the previous quarter, as Hong Kong home prices recorded their first weekly fall after rising for 19 consecutive weeks. Three residential sites spread across Lantau Island, Tai\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\/75257"}],"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=75257"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/75257\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=75257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=75257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=75257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}