{"id":96129,"date":"2018-08-16T12:56:29","date_gmt":"2018-08-16T05:56:29","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-fall-by-up-to-15-on-property-curbs-propnex\/"},"modified":"2018-08-16T13:02:59","modified_gmt":"2018-08-16T06:02:59","slug":"home-prices-to-fall-by-up-to-15-on-property-curbs-propnex","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-fall-by-up-to-15-on-property-curbs-propnex\/","title":{"rendered":"Home prices to fall by up to 15% on property curbs: PropNex"},"content":{"rendered":"


\nThe drop in home prices in Singapore could appeal to home buyers.
\nWith 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 loan-to-value (LTV) limits, reported Singapore Business Review.
\nThe company also believes that investors are already getting used to stamp duty hikes compared to previous instances, noted Jefferies Singapore.
\nMore: Buyers Rushing To Avoid Property Curbs Led To 55% Surge In July Home Sales
\nIn fact, foreign investors have already factored in the 15 percent Additional Buyer\u2019s Stamp Duty (ABSD), while buyers will soon get used to the five percentage point hike in ABSD.
\nSingaporeans accounted for 74.6 percent of private property purchases last year, up from 68.1 percent in 2014.
\n\u201cAs a proportion, foreign purchases have been a lot less this time,\u201d said Jefferies Singapore analyst Krishna Guha, while noting that it would be interesting to watch if the ABSD hike does not cool foreign buying.
\nJefferies Singapore expects the private primary market, excluding executive condos, to be softer than in 2017 when 10,862 units were sold by developers. The private resale market, on the other hand, is expected to be better than the previous year, when about 14,000 units were sold. This comes as 8,366 resale units were transacted in the first half of 2018 alone.
\nGuha predicts an excess of project launches this year and in 2019, considering that only 10 of the 60 projects successfully sold via en bloc sale since 2016 have been launched as of June. The other projects, with a pipeline of 13,000 housing units, are expected to be launched in H2 2018 and 2019.
\n\u201cGiven the cooling measures, developers may have to temper margin assumptions and reconfigure project specs and construction costs,\u201d he said. \u201cIn our view, it may also lead to more competition among industry stakeholders.\u201d
\nAnd contrary to PropNex, Guha expects the home price index to increase by three to five percent this year \u2013 implying a two to four percent decline half-on-half for H2 2018.
\nMore: Can you afford a condo? 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…Home prices to fall by up to 15% on property curbs: PropNex<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The drop in home prices in Singapore could appeal to home buyers. With the new...<\/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-96129","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-p0t","jetpack-related-posts":[{"id":123929,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-hopefuls-march-ahead-with-tenders-despite-new-curbs\/","url_meta":{"origin":96129,"position":0},"title":"En bloc hopefuls march ahead with tenders despite new curbs","date":"December 22, 2021","format":false,"excerpt":"\r Despite the increased ABSD rates for developers, tenders for properties such as Lakepoint Condominium, Dublin Lodge, Sixth Avenue Centre, Baode Building, and Hillview Terrace will continue. Projects with ongoing collective sale tender exercise continue as planned even as analysts expect the new property cooling measures to take the wind\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/12\/singapore-prime-district.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":93453,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/no-rationale-for-new-property-cooling-measures-says-redas\/","url_meta":{"origin":96129,"position":1},"title":"No rationale for new property cooling measures, says REDAS","date":"July 9, 2018","format":false,"excerpt":"\r The Real Estate Developers\u2019 Association of Singapore (REDAS) sees no rationale in imposing new property cooling measures considering that the Singapore property market is still in the \u201cearly stages of a recovery and the recovery is in line with economic fundamentals\u201d, reported Channel News Asia. Among the new curbs\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":30313,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/could-this-be-the-quickest-fix-for-singapores-property-slump\/","url_meta":{"origin":96129,"position":2},"title":"Could this be the quickest fix for Singapore\u2019s property slump?","date":"October 17, 2016","format":false,"excerpt":"\r Crowdsourcing pioneer sounds off on the city-state\u2019s dulling market Jubilee bridge in Singapore. Zephyr_p \/ Shutterstock.com Current cooling measures are only walling out foreigners from helping developers and investors unload homes in Singapore. This is the view of Getty Goh, chief executive of Singapore-based real estate crowdsourcing platform CoAssets.\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95477,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-luxury-home-market-will-bear-brunt-of-new-curbs\/","url_meta":{"origin":96129,"position":3},"title":"Singapore's luxury home market will bear brunt of new curbs","date":"August 6, 2018","format":false,"excerpt":"\r Patrick Foto\/Shutterstock Overseas property hunters may pull back. By Property Report Singapore\u2019s recently announced cooling measures\u00a0will have their biggest impact on luxury residential property seekers, a leading market observer told\u00a0Bloomberg.\u00a0 \u201cMore foreign buyers have been eyeing Singapore\u2019s luxury homes for the past year, but they may now take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8177,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/budget-2016-what-to-expect\/","url_meta":{"origin":96129,"position":4},"title":"Budget 2016: What to expect","date":"March 11, 2016","format":false,"excerpt":"\r Key measures will be announced in Budget 2016, and many are wondering if this will mean changes to the property measures. Singapore\u2019s property market faces strong headwinds, but the government seems determined to maintain the cooling measures for now. With more home buyers and developers looking for greener pastures\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/03\/Helen-Ng-683x1024.jpg?fit=683%2C1024&ssl=1&resize=350%2C200","width":350,"height":200},"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":96129,"position":5},"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":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96129"}],"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=96129"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96129\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96129"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96129"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96129"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}