{"id":95567,"date":"2018-08-07T10:35:30","date_gmt":"2018-08-07T03:35:30","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-to-drop-by-up-to-10-following-new-curbs\/"},"modified":"2018-08-07T18:02:51","modified_gmt":"2018-08-07T11:02:51","slug":"singapore-home-prices-to-drop-by-up-to-10-following-new-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-home-prices-to-drop-by-up-to-10-following-new-curbs\/","title":{"rendered":"Singapore home prices to drop by up to 10% following new curbs?"},"content":{"rendered":"


\nLocal banks reckon home prices will fall following the latest round of cooling measures.
\nSingapore banks expect home prices to fall along with home loan activity, following the introduction by the government of its latest round of property cooling measures.
\nUOB chief Wee Ee Cheong revealed that his \u201cgut feel\u201d is that home prices will fall 5.0 to 10 percent following the new measures, reported the Business Times.
\nMore:\u00a0Financial Guide On Affordability: TDSR
\nBut while housing loan activity may also drop, he does not expect it to affect the bank\u2019s home loans growth for now.
\nIn fact, OCBC chief operating officer Ching Wei Hong, who also serves as the head of global consumer financial services for OCBC, still expects an overall mortgage growth of low to mid single-digit percentage for 2018.
\nThis comes as there is no \u201ccomplete collapse\u201d of the property market, he said while noting that demand from first-time house buyers continued to be fairly resilient.
\nNonetheless, Ching does not expect to \u201csee the same exuberance\u201d as the first half.
\nSingapore\u2019s big three banks \u2013 UOB, OCBC and DBS \u2013 are bracing for a slower home loan activity in the coming years, given the new cooling measures by the government.
\nWith the new measures expected to hit sentiment, DBS \u2013 which is Singapore\u2019s largest mortgage provider \u2013 slashed its property loans growth forecast by $1 billion.
\nReporting higher earnings for the second quarter ended 30 June, the three banks noted that the chill in the property market comes alongside a new type of cold war amid growing trade tensions between China and the US.
\nIn Q2, DBS saw its net profit increase 18 percent to $1.33 billion, while UOB and OCBC\u2019s net profit rose 28 percent and 16 percent to $1.08 billion and $1.21 billion respectively.
\nMore: Can you afford a condo? Check your\u00a0affordability\u00a0now.\u00a0
\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…Singapore home prices to drop by up to 10% following new curbs?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Local banks reckon home prices will fall following the latest round of cooling measures. 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-95567","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-oRp","jetpack-related-posts":[{"id":123853,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-stocks-fall-amid-new-cooling-measures\/","url_meta":{"origin":95567,"position":0},"title":"Singapore property stocks fall amid new cooling measures","date":"December 17, 2021","format":false,"excerpt":"\r The latest round of cooling measures, which saw higher ABSD rates, a tighter TDSR threshold and a lower LTV limit for HDB-granted loans, impacted Singapore property stocks negatively. Singapore\u2019s property firms saw their shares drop on Thursday (16 December) following the Government\u2019s unexpected announcement of new property cooling measures,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/singapore-city.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":20906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-easing-of-property-curbs-until-2017-say-experts\/","url_meta":{"origin":95567,"position":1},"title":"No easing of property curbs until 2017, say experts","date":"July 13, 2016","format":false,"excerpt":"\r Singapore home prices have been falling over the past 11 consecutive quarters, its longest losing streak. Although home prices may start bottoming out in the next few quarters, which could prompt a moderate recovery from 2018, easing of property cooling measures are not expected until next year at the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":76296,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-property-market-rebound-may-extend-through-2019\/","url_meta":{"origin":95567,"position":2},"title":"Singapore property market rebound may extend through 2019","date":"January 11, 2018","format":false,"excerpt":"\r Analysts believe the four-year slump that has plagued Singapore\u2019s property market may have come to an end as private home prices rose for a second consecutive quarter in the period ended-31 December. In fact, analysts at Credit Suisse expect home prices to grow by as much as 10 percent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97200,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-that-acquired-expensive-land-to-feel-brunt-of-new-property-curbs\/","url_meta":{"origin":95567,"position":3},"title":"Developers that acquired expensive land to feel brunt of new property curbs","date":"September 4, 2018","format":false,"excerpt":"\r Experts revealed that real estate developers that bought pricey land in Singapore\u2019s prime districts during the most recent en bloc cycle prior to the implementation of the new property curbs are the most at risk from the fresh cooling measures, reported the Business Times. The city-state\u2019s prime areas are\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-mortgage-demand-significantly-dented\/","url_meta":{"origin":95567,"position":4},"title":"Singapore mortgage demand significantly dented","date":"January 25, 2019","format":false,"excerpt":"\r Rising interest rates and new property cooling measures have significantly dented mortgage demand. Rising interest rates and the government\u2019s surprise property cooling measures in July have significantly dented mortgage demand at Singapore\u2019s banks, threatening to further accelerate the decline in house prices, reported Bloomberg. In the first 11 months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":120539,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/allgreen-kerry-joint-ventures-secure-861-75mil-green-loan-for-pasir-ris-8\/","url_meta":{"origin":95567,"position":5},"title":"Allgreen-Kerry joint ventures secure $861.75mil green loan for Pasir Ris 8","date":"July 8, 2021","format":false,"excerpt":"\r Allgreen-Kerry joint ventures secure $861.75mil green loan for Pasir Ris 8Artist\u2019s impression of Pasir Ris 8.\u00a0Photo: Allgreen Properties Ltd. 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