{"id":93195,"date":"2018-07-05T10:06:35","date_gmt":"2018-07-05T03:06:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-calls-for-caution-amidst-euphoria-in-singapore-property-market\/"},"modified":"2018-07-05T11:02:55","modified_gmt":"2018-07-05T04:02:55","slug":"mas-calls-for-caution-amidst-euphoria-in-singapore-property-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-calls-for-caution-amidst-euphoria-in-singapore-property-market\/","title":{"rendered":"MAS calls for caution amidst \u201ceuphoria\u201d in Singapore property market"},"content":{"rendered":"


\nProperty prices in Singapore have surged by 9.1% since mid-2017.
\nThe \u201ceuphoria\u201d in the Singapore property market should be met with caution, according to Monetary Authority of Singapore (MAS) managing director Ravi Menon.
\nSpeaking at an annual report media briefing on Wednesday (4 July), he noted that the property market has witnessed a resurgence in prices and transactions over the past year.
\nMore:\u00a0Singapore Private Home Prices May Surge 20% This Year: Savills
\nPrivate housing prices rose by 9.1 percent since the trough in the second quarter of 2017, which mostly offset the cumulative price decline of 11.6 percent seen during the four-year period between mid-2013 and mid-2017.
\nOver the last 12 months, the number of property transactions also soared by about 25 percent from the previous 12 months, while new housing loans jumped 34 percent year-on-year.
\n\u201cThe recovery in the property market is welcome, but it should not decouple from economic fundamentals,\u201d Menon said.
\nHe noted that a rapid hike in prices raises the risk of a destabilising market correction later when additional supply comes onstream.
\nWith this, he called on developers to be cautious in making land bids, while individuals were reminded to be cautious of debt servicing burdens and to avoid taking on too much leverage when purchasing a home, reported the Business Times.
\nBanks, on the other hand, should be careful when underwriting and perform stress-tests for future scenarios.
\n\u201cBasically, we\u2019re sounding caution to everyone to be sober, balanced and exercise good judgement,\u201d Menon said.
\nHe added that the central bank, the Ministry of National Development and the Ministry of Finance \u201care closely monitoring developments in the residential property market, and remain committed to ensuring a sustainable market\u201d.
\nERA Realty\u2019s key executive officer Eugene Lim believes the warning serves as a reminder that the government will intervene once it feels the property market is overheating.
\n\u201cThe government\u2019s key concern is the scale and pace of property price increase vis a vis economic and income growth. We are reminded that the government stands ready to make policy and regulatory changes in order to ensure a sustainable property market over the longer term,\u201d he said.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project\u00a0 Reviews\u00a0and\u00a0Guides.
\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…MAS calls for caution amidst \u201ceuphoria\u201d in Singapore property market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Property prices in Singapore have surged by 9.1% since mid-2017. The \u201ceuphoria\u201d in the Singapore...<\/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-93195","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-of9","jetpack-related-posts":[{"id":93257,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/govt-cools-property-market-with-higher-absd-rates-tighter-ltv-limits\/","url_meta":{"origin":93195,"position":0},"title":"Govt cools property market with higher ABSD rates, tighter LTV limits","date":"July 6, 2018","format":false,"excerpt":"\r Buyers rushing to submit their cheques at Riverfront Residences before the 12am deadline to avoid the revised ABSD rates. 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OrangeTee noted resale prices \u201chave\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-remains-in-fair-valued-zone\/","url_meta":{"origin":93195,"position":2},"title":"Singapore housing market remains in fair-valued zone","date":"October 9, 2019","format":false,"excerpt":"\r \u00a0 Singapore was cited as the country with the most improved housing market with regard to affordability. 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For the whole of 2016, the Resale Price Index slipped by 0.1 percent. On\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94041,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/around-1000-private-condos-snapped-up-due-to-fear-of-missing-out\/","url_meta":{"origin":93195,"position":4},"title":"Around 1,000 private condos snapped up due to fear of missing out","date":"July 16, 2018","format":false,"excerpt":"\r Home buyers in Singapore rushed to acquire private residential properties hours before the latest property cooling measures took effect on Thursday night (5 July), reported TODAYonline. Overall, about 1,000 private condo units were snapped up in less than five hours before the clock struck midnight at Park Colonial in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118605,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-ranked-48th-in-the-world-in-q2-2020-global-house-price-index-knight-frank\/","url_meta":{"origin":93195,"position":5},"title":"Singapore ranked 48th in the world in Q2 2020 global house price index, Knight Frank","date":"September 14, 2020","format":false,"excerpt":"\r The report\u00a0tracks the movement in mainstream\u00a0residential prices across more than 50 countries and territories\u00a0worldwide using official statistics.\u00a0 Singapore is placed 48th in the world for house price growth as the city-state saw home prices inch up by only 0.4% year-on-year during the second quarter of 2020, revealed Knight Frank\u2019s\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\/93195"}],"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=93195"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/93195\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=93195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=93195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=93195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}