{"id":96125,"date":"2018-08-16T11:25:20","date_gmt":"2018-08-16T04:25:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-rushing-to-avoid-property-curbs-led-to-55-surge-in-july-home-sales\/"},"modified":"2018-08-16T12:03:50","modified_gmt":"2018-08-16T05:03:50","slug":"buyers-rushing-to-avoid-property-curbs-led-to-55-surge-in-july-home-sales","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/buyers-rushing-to-avoid-property-curbs-led-to-55-surge-in-july-home-sales\/","title":{"rendered":"Buyers rushing to avoid property curbs led to 55% surge in July home sales"},"content":{"rendered":"


\nRiverfront Residences was one of the top performing projects in terms of sales last month.
\nPropelled 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 the highest level since March 2017, reported Channel NewsAsia.
\nAccording to statistics from the Urban Redevelopment Authority (URA), this figure is higher than the 1,112 units sold in the same period last year and is significantly more than the 654 units taken up in June. These figures exclude executive condominiums (ECs).
\nMore: Developers Slash Private Condo Prices By 5-10%
\nThe new private home sales figure last month was \u201cexpected due to buyers and property investors rushing to purchase their units before the implementation of the recent cooling measures,\u201d said PropNex Realty CEO Ismail Gafoor.
\n\u201cAs reported, about 1,000 units were sold at top performing projects Riverfront Residences, Park Colonial and Stirling Residences in just one night.\u201d
\nRemarkably, the private property market remained active despite the new curbs. \u201cWhat is notable is that post-cooling measures, the sales momentum carried through at these three projects and other developments as well, as reflected by the total units sold (1,724 units) in July,\u201d noted Ismail.
\n\u201cThis can be attributed to the developers adjusting their prices, enticing buyers to commit to their purchase,\u201d he added.
\nIn fact, Colliers International\u2019s research head for Singapore Tricia Song revealed that Riverfront Residences, Park Colonial and Stirling Residences moved an additional 118, 119 and 139 units since 6 July.
\n\u201cWe believe this reflected genuine demand, undeterred by the higher additional buyer\u2019s stamp duty and lowered loan-to-value (LTV) limits.\u201d
\nFurthermore, over 38.4 percent of the URA caveats submitted last month occurred after the curbs took effect, said OrangeTee\u2019s head of research and consultancy Christine Sun.
\n\u201cThe high percentage of caveats lodged after the implementation of the cooling measures indicate that sales are still relatively quite healthy, driven mostly by first-timers who are less affected by the cooling measures and found the current launch prices quite attractive.\u201d
\nHowever, private home sales are expected to slow down for the rest of the year due to buyers and sellers adopting a cautious stance, while realistically priced projects are likely to see better take-up, added JLL national director of research and consultancy Ong Teck Hui.
\nCan you afford a Private Condominium? Check your\u00a0affordability\u00a0now.
\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…Buyers rushing to avoid property curbs led to 55% surge in July home sales<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Riverfront Residences was one of the top performing projects in terms of sales last month....<\/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-96125","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-p0p","jetpack-related-posts":[{"id":96129,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-fall-by-up-to-15-on-property-curbs-propnex\/","url_meta":{"origin":96125,"position":0},"title":"Home prices to fall by up to 15% on property curbs: PropNex","date":"August 16, 2018","format":false,"excerpt":"\r The drop in home prices in Singapore could appeal to home buyers. 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":[]},{"id":98052,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-private-home-sales-plunged-in-august\/","url_meta":{"origin":96125,"position":1},"title":"New private home sales plunged in August","date":"September 18, 2018","format":false,"excerpt":"\r Artist\u2019s impression of JadeScape, a new private housing development near Marymount MRT station. Following the introduction of new property cooling measures on 6 July, new private home sales in Singapore declined sharply in August on both a monthly and yearly basis, reported Channel NewsAsia. According to statistics published by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":43327,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/taiwan-defies-property-curbs-with-an-impressive-rise-in-sales\/","url_meta":{"origin":96125,"position":2},"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. Charlesimage\/Shutterstock Six cities in Taiwan saw a 37.5 percent year-on-year hike in the volume of housing transactions in January, Taipei Times reported. A total of 15,656 units were transacted in these\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":96183,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/august-property-sales-to-fall-as-buyers-postpone-purchases\/","url_meta":{"origin":96125,"position":3},"title":"August property sales to fall as buyers postpone purchases","date":"August 17, 2018","format":false,"excerpt":"\r With buyers holding back purchases during the hungry ghost month, analysts expect property sales for August to be sluggish, reported Singapore Business Review. Colliers International even expects the significant drop in sales to continue to September as the buyers\u2019 knee-jerk reaction to the new housing curbs add up to\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":96125,"position":4},"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":114357,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-sales-up-14-9-in-january\/","url_meta":{"origin":96125,"position":5},"title":"Private home sales up 14.9% in January","date":"February 18, 2020","format":false,"excerpt":"\r The figure also marked the best January showing since 2013,\u00a0when 2,028 units were transacted. Photo: JadeScape emerged as the best-selling project in January 2020.\u00a0 Despite the Chinese New Year festivities and the coronavirus outbreak, developers sold 618 new private homes in January, up 14.9% from the previous month and\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\/96125"}],"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=96125"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96125\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96125"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96125"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96125"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}