{"id":94435,"date":"2018-07-23T10:24:36","date_gmt":"2018-07-23T03:24:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-glut-unlikely-to-happen-condo-prices-may-see-healthy-growth-jll\/"},"modified":"2018-07-23T11:03:14","modified_gmt":"2018-07-23T04:03:14","slug":"supply-glut-unlikely-to-happen-condo-prices-may-see-healthy-growth-jll","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/supply-glut-unlikely-to-happen-condo-prices-may-see-healthy-growth-jll\/","title":{"rendered":"Supply glut unlikely to happen, condo prices may see healthy growth: JLL"},"content":{"rendered":"


\nMore than 50,000 unsold units are forecasted to enter the market in the coming years.
\nA glut is unlikely to occur in Singapore\u2019s private housing market despite the pessimistic outlook of the Real Estate Developers\u2019 Association of Singapore (REDAS), which believes that the new property curbs could erode market confidence and exacerbate the high supply situation, reported Channel NewsAsia.
\nBased on statistics from JLL Singapore and the Urban Redevelopment Authority (URA), 50,526 units of unsold private homes are forecasted to enter the market in the coming years. These include developments yet to obtain planning approvals as well as government land and en bloc sites acquired until June 2018.
\nMore: Private Home Sales Down 41.7% In June
\nJLL Singapore\u2019s research head Tay Huey Ying thinks these units can be absorbed by the market as long as home builders launch their units in intervals before the five-year deadline to sell all homes in a project.
\n\u201cDevelopers would have a tendency to want to spread out launches over a longer period of time to tap demand over different periods of time, as well as to release units in smaller quantities to test the market in terms of pricing,\u201d she said, adding that developers typically have deep pockets and can cope with some delay in launches as seen in the past.
\nJLL noted that on average, 12,159 units have been sold by home builders in the last 10 years, with sales this year expected to hit 8,000 to 9,000 units. Based on the projected unsold stock, around 12,632 homes can be launched for sale per year from 2018 to 2022 if the existing unsold inventory is paced out.
\nFurthermore, private condo prices in Singapore could see healthy growth despite the new cooling measures barring headwinds like the US-China trade war, further interest rate hikes by the US Federal Reserve and additional cooling measures if prices continue to increase beyond 3.0 percent every quarter.
\n\u201cMoving forward, given that the government is intent on keeping home price increase in tandem with economic fundamentals, we are looking into the future where home prices could potentially grow by three to four percent per annum,\u201d added Tay.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project 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…Supply glut unlikely to happen, condo prices may see healthy growth: JLL<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

More than 50,000 unsold units are forecasted to enter the market in the coming years....<\/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-94435","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-oz9","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":94435,"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":8192,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/prime-properties-now-more-affordable-jll\/","url_meta":{"origin":94435,"position":1},"title":"Prime properties now more affordable: JLL","date":"March 9, 2016","format":false,"excerpt":"\r Singapore\u2019s prime residential property is now more affordable than in other top global cities. (Photo: Erwin Soo, Wikimedia Commons) Prime residential property in Singapore is significantly more affordable now than in the rest of the world\u2019s best cities, according to the latest JLL report. \u201cSingapore ranks amongst the top\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":94757,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developer-cools-price-in-response-to-cooling-measures\/","url_meta":{"origin":94435,"position":2},"title":"Developer cools price in response to cooling measures","date":"July 26, 2018","format":false,"excerpt":"\r The Tre Ver in Potong Pasir opened for preview last weekend, attracting about 6,000 potential buyers. (Photo: UOL Group) The developer of The Tre Ver condominium in Potong Pasir plans to offer significant discounts to attract home buyers amidst the new property cooling measures. \u201cIn the vicinity, we know\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":118074,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-rents-to-face-downward-pressure-in-the-coming-months\/","url_meta":{"origin":94435,"position":3},"title":"Residential rents to face downward pressure in the coming months","date":"August 4, 2020","format":false,"excerpt":"\r Leasing demand will likely weaken given that the ongoing economic slowdown\u00a0and\u00a0border control measures are reducing the pool of limited tenants within the market. Residential rents in Singapore are expected to continue facing downward pressure over the coming months, reported Singapore Business Review citing JLL. This comes as leasing demand\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":74862,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/far-too-early-to-worry-of-a-private-home-oversupply\/","url_meta":{"origin":94435,"position":4},"title":"\u201cFar too early\u201d to worry of a private home oversupply","date":"December 19, 2017","format":false,"excerpt":"\r Despite the Monetary Authority of Singapore\u2019s (MAS) warning that private home supply may significantly rise over the next few years on the back of the surge in en bloc deals, Maybank Kim Eng believes it is \u201cfar too early\u201d to be worried of a potential oversupply, reported Today Online.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76090,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-unsold-units-at-seven-year-low-in-q3-2017\/","url_meta":{"origin":94435,"position":5},"title":"Singapore\u2019s unsold units at seven-year low in Q3 2017","date":"January 9, 2018","format":false,"excerpt":"\r With the improved buyer sentiment over the recent months, unsold home inventory in Singapore fell to a seven-year low at 16,031 units during the third quarter of 2017, reported Singapore Business Review citing Jefferies Singapore Limited. Total transactions volumes, on the other hand, rose 54 percent year-on-year in the\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\/94435"}],"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=94435"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/94435\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=94435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=94435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=94435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}