{"id":80971,"date":"2018-02-26T09:56:42","date_gmt":"2018-02-26T02:56:42","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/"},"modified":"2018-02-26T10:09:03","modified_gmt":"2018-02-26T03:09:03","slug":"buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-stamp-duty-hike-unlikely-to-hinder-housing-market-recovery\/","title":{"rendered":"Buyer\u2019s stamp duty hike unlikely to hinder housing market recovery"},"content":{"rendered":"


\nREDAS President Augustine Tan.
\nThe Real Estate Developers\u2019 Association of Singapore (REDAS) believes that the hike in buyer\u2019s stamp duty (BSD) is unlikely to jeopardise the recovery of the city-state\u2019s private housing market, reported the Business Times.
\n\u201cThe property market is in the early stages of a recovery and positive buying sentiments are likely to continue. Barring unforeseen circumstances and on the back of a stronger-than-expected economic growth outlook in Singapore, sale momentum of 2017 is likely to carry through to the next few years,\u201d said REDAS President Augustine Tan on Friday (23 February).
\nHowever, prices of new developments here are expected to rise due to the BSD hike, coupled with the significant premiums home builders pay for housing sites. This could \u201cadd some friction to transaction volumes\u201d as buyers are still price-conscious.
\nLast Monday (19 February), Finance Minister Heng Swee Keat revealed during his Budget 2018 speech that the top marginal BSD rate for residential properties costing over $1 million would be raised from three percent previously to four percent starting on 20 February.
\nMeanwhile, property prices in Singapore are relatively affordable versus other major cities in the world, added Tan, citing research from property consultancy JLL.
\nIn fact, a typical house here is worth 4.8 years to five years of income compared to 8.5 years in London. That in Beijing and Shanghai is equivalent to 14 or 15 years.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Buyer\u2019s stamp duty hike unlikely to hinder housing market recovery<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

REDAS President Augustine Tan. The Real Estate Developers\u2019 Association of Singapore (REDAS) believes that the...<\/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-80971","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-l3Z","jetpack-related-posts":[{"id":94189,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-property-curbs-to-erode-market-confidence-says-redas\/","url_meta":{"origin":80971,"position":0},"title":"New property curbs to erode market confidence, says REDAS","date":"July 18, 2018","format":false,"excerpt":"\r The new property curbs are a \u201cbig setback\u201d for Singapore\u2019s property sector, according to the Real Estate Developers\u2019 Association of Singapore (REDAS) in a report by the Business Times. These new cooling measures will impact the confidence of property developers, investors and home buyers, said REDAS President Augustine Tan.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93453,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-rationale-for-new-property-cooling-measures-says-redas\/","url_meta":{"origin":80971,"position":1},"title":"No rationale for new property cooling measures, says REDAS","date":"July 9, 2018","format":false,"excerpt":"\r The Real Estate Developers\u2019 Association of Singapore (REDAS) sees no rationale in imposing new property cooling measures considering that the Singapore property market is still in the \u201cearly stages of a recovery and the recovery is in line with economic fundamentals\u201d, reported Channel News Asia. Among the new curbs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":60298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-too-soon-to-say-property-market-has-recovered\/","url_meta":{"origin":80971,"position":2},"title":"Redas: Too soon to say property market has recovered","date":"July 10, 2017","format":false,"excerpt":"\r Augustine Tan, President of Redas. (Photo: Far East Organization) Despite signs of the property market picking up, Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes that it is still too early to assume that the market has finally turned positive and recovery has kicked in, reported\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":42055,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/augustine-tan-remains-redas-president\/","url_meta":{"origin":80971,"position":3},"title":"Augustine Tan remains Redas president","date":"January 27, 2017","format":false,"excerpt":"\r Augustine Tan has been re-elected as Redas President for another two-year term. (Photo: Far East Organization) The Real Estate Developers\u2019 Association of Singapore (Redas) on Thursday, 26 January, named Augustine Tan as its President for another two-year term, reported the Business Times. The 58-year-old, who is also Executive Director\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103066,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-names-cdl-group-general-manager-as-new-president\/","url_meta":{"origin":80971,"position":4},"title":"REDAS names CDL group general manager as new president","date":"January 18, 2019","format":false,"excerpt":"\r Augustine Tan will be stepping down as president of REDAS. (Photo: Far East Organization) The Real Estate Developers\u2019 Association of Singapore (REDAS) has named Chia Ngiang Hong, group general manager at City Developments Limited (CDL), as its new president for the 2019\/2020 term, reported the Business Times. He will\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":68246,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/redas-fast-paced-land-acquisitions-at-higher-prices-not-sustainable\/","url_meta":{"origin":80971,"position":5},"title":"REDAS: Fast-paced land acquisitions at higher prices not sustainable","date":"October 5, 2017","format":false,"excerpt":"\r Augustine Tan, President of Redas. (Photo: Far East Organization) While City Developments and Hong Realty acquired Amber Park for a record $1,515 per square foot per plot ratio, Real Estate Developers\u2019 Association of Singapore (Redas) president Augustine Tan warned that the fast rate by which developers acquire private residential\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\/80971"}],"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=80971"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/80971\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=80971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=80971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=80971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}