{"id":93451,"date":"2018-07-09T09:51:39","date_gmt":"2018-07-09T02:51:39","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-to-drop-15-20-in-2018\/"},"modified":"2018-07-09T10:03:14","modified_gmt":"2018-07-09T03:03:14","slug":"new-home-sales-to-drop-15-20-in-2018","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-to-drop-15-20-in-2018\/","title":{"rendered":"New home sales to drop 15-20% in 2018"},"content":{"rendered":"


\nImage source: Logan Property (Stirling Residences)
\nThe government\u2019s latest property curbs that took effect on Friday (6 July) is expected to reduce new private home sales by 15 percent to 20 percent year-on-year for the whole of 2018, reported Singapore Business Review.
\nAccording to Colliers International, the overall tally is forecasted to hit 8,500 to 9,000 units compared to 10,566 units sold last year and the 3,434 units sold between January to May this year.
\nThe property consultancy noted that the two prior rounds of property cooling measures had a significant impact on the primary residential market.
\nFor instance, new home sales declined 65 percent to 712 units in February 2013 following the curbs introduced in the prior month. Similarly, transaction volume fell 73 percent to 482 units in July of the same year due to rules imposed in June.
\nColliers explained that the ninth round of property cooling measures will have a substantial impact as the higher Additional Buyer\u2019s Stamp Duty (ABSD) for those not buying their first home will soften investment demand from both locals and foreigners. The lower Loan-to-Value (LTV) limits, which also hits first-time home buyers, will negatively affect the appetite for homes given the bigger cash outlay buyers need to produce.
\n\u201cWe expect new home sales to decline significantly in the initial few months as the market takes stock of the potential implications,\u201d noted the property consultancy, adding that property developers are likely to defer their launches and re-strategise\u00a0because of the fresh property cooling measures.
\n\u201cThat said, the flurry of last minute deals done \u2013 estimated at 1,000 units from three project launches \u2013 The Stirling Residences, Park Colonial and Riverfront Residences \u2013 on the evening of July 05 to beat the ABSD deadline indicated that there is both liquidity and pent-up demand for units in the market.\u201d
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…New home sales to drop 15-20% in 2018<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Image source: Logan Property (Stirling Residences) The government\u2019s latest property curbs that took effect on...<\/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-93451","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-ojh","jetpack-related-posts":[{"id":43327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taiwan-defies-property-curbs-with-an-impressive-rise-in-sales\/","url_meta":{"origin":93451,"position":0},"title":"Taiwan defies property curbs with an impressive rise in sales","date":"February 8, 2017","format":false,"excerpt":"\r It\u2019s not just Mainland China that\u2019s feeling the heat Fireworks from Taipei 101 on New Year\u2019s Day 2017. 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Propelled by buyers rushing to purchase private condos hours before the new property curbs took effect on 6 July, new private home sales in Singapore jumped 55 percent to 1,724 units in July, or\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22935,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-sales-more-than-doubles-in-july\/","url_meta":{"origin":93451,"position":2},"title":"Developer sales more than doubles in July","date":"August 15, 2016","format":false,"excerpt":"\r The Lake Grande project in Jurong sold 464 units last month at a median price of $1,368 psf. 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With the new property cooling measures, PropNex Realty expects private home prices in Singapore to drop by 10 to 15 percent \u2013 which could appeal to first-time home buyers irrespective of the five percentage point reduction in\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\/93451"}],"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=93451"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/93451\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=93451"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=93451"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=93451"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}