{"id":94041,"date":"2018-07-16T11:05:51","date_gmt":"2018-07-16T04:05:51","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/around-1000-private-condos-snapped-up-due-to-fear-of-missing-out\/"},"modified":"2018-07-17T18:03:13","modified_gmt":"2018-07-17T11:03:13","slug":"around-1000-private-condos-snapped-up-due-to-fear-of-missing-out","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/around-1000-private-condos-snapped-up-due-to-fear-of-missing-out\/","title":{"rendered":"Around 1,000 private condos snapped up due to fear of missing out"},"content":{"rendered":"


\nHome 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.
\nOverall, about 1,000 private condo units were snapped up in less than five hours before the clock struck midnight at Park Colonial in Woodleigh, Riverfront Residences at Hougang and Stirling Residences in Queenstown after home builders launched their projects in advance due to the new property curbs.
\n\u201cWhat happened that Thursday night was the fear of missing out,\u201d said Desmond Sim, CBRE\u2019s research head for Singapore and Southeast Asia.
\nAccording to real estate experts, the new property curbs have shocked the marked due to its severity and quick implementation just a few days after the Monetary Authority of Singapore (MAS) called for caution amidst a euphoria in the private housing market, but the red flags were already there.
\n\u201cEconomic growth is healthy in 2017, and also in the first quarter of 2018, but there are potential macroeconomic and external risks that are not to be ignored. The rising interest rates, the low inflation rate, political instability and the trade war,\u201d said Associate Professor Sing Tien Foo, the Director of the National University of Singapore\u2019s Institute of Real Estate Studies.
\nMoreover, Sim noted that land prices have significantly increased by 15 to 20 percent in 2017, driven by record bids for government land, with a Cuscaden Road site sold for $2,377 psf per plot ratio.
\nAnother factor is the collective sales fever, with Colliers reporting in April that en bloc sales reached about $8.13 billion last year or the highest since 2007. For Q1 2018, the amount already hit $5.83 billion with 17 housing sites acquired via this method.
\nRising land prices would lead to developers launching new projects at higher prices. In turn, this would push resale prices at existing developments in the area, and could result in an unsustainable escalation, added Cushman & Wakefield\u2019s senior director of research, Christine Li.
\n\u00a0
\nSenior Content Producer, Christopher Chitty, edited this story
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Around 1,000 private condos snapped up due to fear of missing out<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Home buyers in Singapore rushed to acquire private residential properties hours before the latest property...<\/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-94041","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-osN","jetpack-related-posts":[{"id":94279,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-cooling-measures-to-impact-banks-mortgage-business-says-dbs\/","url_meta":{"origin":94041,"position":0},"title":"New cooling measures to impact banks\u2019 mortgage business, says DBS","date":"July 20, 2018","format":false,"excerpt":"\r Singapore\u2019s mortgage market is expected to soften in the long term due to the new cooling measures in the private residential market, according to the city-state\u2019s largest bank, DBS Group Holdings. Nevertheless, the large number of homes purchased a few hours before the curbs took effect will give a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96125,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-rushing-to-avoid-property-curbs-led-to-55-surge-in-july-home-sales\/","url_meta":{"origin":94041,"position":1},"title":"Buyers rushing to avoid property curbs led to 55% surge in July home sales","date":"August 16, 2018","format":false,"excerpt":"\r Riverfront Residences was one of the top performing projects in terms of sales last month. 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":50762,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/easing-property-curbs-gives-singapore-developers-new-headache\/","url_meta":{"origin":94041,"position":2},"title":"Easing property curbs gives Singapore developers new headache","date":"April 3, 2017","format":false,"excerpt":"\r Singapore\u2019s recent unwinding of some property curbs, which initially appeared to boost prospects for developers, may instead be creating new problems. After regulators closed a tax loophole that allowed developers to offload apartments in bulk to institutional investors and wealthy Singaporeans, many of the city state\u2019s builders now face\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93451,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-home-sales-to-drop-15-20-in-2018\/","url_meta":{"origin":94041,"position":3},"title":"New home sales to drop 15-20% in 2018","date":"July 9, 2018","format":false,"excerpt":"\r Image source: Logan Property (Stirling Residences) The 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. According to Colliers International, the overall tally\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":47415,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-relaxes-some-property-curbs-eases-buy-and-hold-rules-cuts-taxes\/","url_meta":{"origin":94041,"position":4},"title":"Singapore relaxes some property curbs, eases buy and hold rules, cuts taxes","date":"March 10, 2017","format":false,"excerpt":"\r After eight rounds of property and loan curbs since 2009 to prevent a bubble in Singapore, the government announced it will ease some of these measures.\r \r Source : cnbc.com\r Read more...Singapore relaxes some property curbs, eases buy and hold rules, cuts taxes","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":113157,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/as-singapore-heads-into-election-easing-property-curbs-appears-unlikely\/","url_meta":{"origin":94041,"position":5},"title":"As Singapore heads into election, easing property curbs appears unlikely","date":"December 18, 2019","format":false,"excerpt":"\r Singapore is unlikely to ease property cooling measures as it heads into a high-stakes election that could take place in the first half of next year.Although several developers, including City Developments Ltd, have called on the government to loosen curbs to help fix an apartment glut, such a move\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\/94041"}],"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=94041"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94041\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}