{"id":95477,"date":"2018-08-06T10:27:39","date_gmt":"2018-08-06T03:27:39","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-luxury-home-market-will-bear-brunt-of-new-curbs\/"},"modified":"2018-08-06T11:03:02","modified_gmt":"2018-08-06T04:03:02","slug":"singapores-luxury-home-market-will-bear-brunt-of-new-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-luxury-home-market-will-bear-brunt-of-new-curbs\/","title":{"rendered":"Singapore's luxury home market will bear brunt of new curbs"},"content":{"rendered":"


\nPatrick Foto\/Shutterstock
\nOverseas property hunters may pull back.
\nBy Property Report
\nSingapore\u2019s recently announced cooling measures\u00a0will have their biggest impact on luxury residential property seekers, a leading market observer told\u00a0Bloomberg.\u00a0
\n\u201cMore foreign buyers have been eyeing Singapore\u2019s luxury homes for the past year, but they may now take a back seat,\u201d Christine Li, head of research for Singapore at Cushman & Wakefield Inc, was quoted as saying.\u00a0
\nSales for luxury homes are projected to drop between 30 and 40 percent over the next two quarters, the consultancy stated.\u00a0
\nThis will be in response to the recent hike of the Additional Buyer\u2019s Stamp Duty (ABSD) from 15 to 20 percent\u00a0on foreign property seekers and from\u00a015 percent to 25 percent\u00a0on entity buyers.
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\nOverseas buyers accounted for a third of luxury property deals in the city-state last year, Bloomberg reported.\u00a0
\nIn addition to higher stamp duties, the government also tightened Loan-to-Value (LTV) limits on home purchases.\u00a0
\n\u201cThe government will continue to monitor the property market and adjust our policies as necessary, to maintain a stable and sustainable property market,\u201d warned the Ministry of Finance, the Ministry of National Development and the Monetary Authority of Singapore in a joint statement.\u00a0
\nSingapore private home prices posted a quarterly growth of 3.4 percent in the second quarter of 2018, the Urban Redevelopment Authority (URA) revealed Friday.
\nDespite the new curbs, the property market overall is \u201cstill positioned for growth,\u201d JLL Singapore research director Ong Teck Hui said. \u201cSingapore\u2019s economic outlook remains firm and Singapore aggregated household balances remain healthy and flush with cash.\u201d
\n\u00a0
\nThis article was originally published on\u00a0Property-Report.com. For more stories from Asia\u2019s most trusted and enduring luxury real estate, architecture and design publication, visit\u00a0Property-Report.com
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Singapore’s luxury home market will bear brunt of new curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Patrick Foto\/Shutterstock Overseas property hunters may pull back. By Property Report Singapore\u2019s recently announced cooling...<\/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-95477","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-oPX","jetpack-related-posts":[{"id":122846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/exceptional-homes-mediacorp-propertyguru-in-partnership-for-singapores-largest-luxury-virtual-real-estate-event\/","url_meta":{"origin":95477,"position":0},"title":"Exceptional Homes \u2013 Mediacorp, PropertyGuru in partnership for Singapore\u2019s largest luxury virtual real estate event","date":"October 27, 2021","format":false,"excerpt":"\r Exceptional Homes is the inaugural content collaboration between Mediacorp and PropertyGuru. The virtual real estate event caters to the robust consumer demand for upscale private property. Property marketplace PropertyGuru has partnered with Mediacorp, Singapore\u2019s national media network, to host Exceptional Homes, the largest luxury virtual real estate event within\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/exceptional-homes.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":27229,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/foreign-factors-benefit-luxury-home-market-in-singapore\/","url_meta":{"origin":95477,"position":1},"title":"Foreign factors benefit luxury home market in Singapore","date":"September 26, 2016","format":false,"excerpt":"\r Singapore\u2019s luxury home market is thriving thanks to factors in other countries, such as stamp duties in the UK. The tax amnesty in Indonesia may not be the only thing driving sales in Singapore\u2019s luxury home market, reported Singapore Business Review, citing Jefferies. According to the American global investment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":111504,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/china-drives-sales-of-singapores-luxury-apartment-market\/","url_meta":{"origin":95477,"position":2},"title":"China drives sales of Singapore\u2019s luxury apartment market","date":"October 11, 2019","format":false,"excerpt":"\r Mainland Chinese nationals, considered as Singapore\u2019s largest foreigner buyer group, bought 97 of these units. Sales for the luxury segment of Singapore\u2019s residential market is on a high, due to increased interest from mainland Chinese, reported Bloomberg citing Colliers International Group. In the first nine months of 2019, foreigners\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":109010,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/chinese-buyers-lead-return-of-foreigners-in-singapores-luxury-homes\/","url_meta":{"origin":95477,"position":3},"title":"Chinese buyers lead return of foreigners in Singapore\u2019s luxury homes","date":"July 15, 2019","format":false,"excerpt":"\r Despite the cooling measures and hefty levies last year, data showed an unexpected rebound in the market as foreigners, especially Chinese buyers, are once again flocking into Singapore\u2019s luxury property market. Chinese buyers have recently dominated the prime residential markets, taking over from affluent tycoons from Indonesia and Malaysia.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":32797,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/luxury-home-prices-see-marginal-rise-in-q3\/","url_meta":{"origin":95477,"position":4},"title":"Luxury home prices see marginal rise in Q3","date":"November 3, 2016","format":false,"excerpt":"\r Luxury homes here have seen only minimal price growth in the last quarter. Singapore\u2019s luxury home prices grew by only 0.5 percent quarter-on-quarter in Q3 2016, according to a JLL report. The city-state joins 17 other cities tracked by JLL, which saw their rate of price growth decline from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105995,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-market-to-benefit-from-brexit\/","url_meta":{"origin":95477,"position":5},"title":"Singapore property market to benefit from Brexit","date":"April 12, 2019","format":false,"excerpt":"\r This comes as the prospect of Brexit has cast a negative impact on the London property market\u2019s status as a safe haven investment for overseas buyers. A turning point in the United Kingdom\u2019s history, the Brexit referendum held in 2016 brought about far-reaching effects \u2013 they could even be\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\/95477"}],"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=95477"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/95477\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=95477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=95477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=95477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}