\nDespite the latest property curbs, Savills senior director Alan Cheong expects private home prices in Singapore to rise by 10 percent to 12 percent for the whole of 2018, and 5.0 percent to 10 percent next year.
\nHe attributes the bullish prospects on several factors. \u201cThere is still a great deal of pent-up household liquidity in the market. Housing prices remain affordable based on liquid assets\/household. Property prices today have not outpaced the income growth since 2013,\u201d said Cheong during a recent investor group luncheon hosted by RHBInvest.
\n\u201cBased on SavilIs\u2019 observation, people in the 45-59 age bracket account for a significant portion of buying demand in show flats. In terms of absolute numbers, males in this bracket are likely to see a steady increase in population growth until 2021 \u2013 this should help buying demand.\u201d<\/p>\n
Moreover, buyers\u2019 interest in new private condos has been sustained even after the introduction of the new curbs, unlike in June 2013 when demand for such properties \u201ccollapsed\u201d after the imposition of the Total Debt Servicing Ratio (TDSR).
Despite the latest property curbs, Savills senior director Alan Cheong expects private home prices in...<\/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-96956","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-pdO","jetpack-related-posts":[{"id":91634,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-private-home-prices-may-surge-20-this-year-savills\/","url_meta":{"origin":96956,"position":0},"title":"Singapore private home prices may surge 20% this year: Savills","date":"June 18, 2018","format":false,"excerpt":"\r Official data shows that over 100 private units were sold for at least $3,000 psf in Q1 2018. Property consultancy Savills reckons that private home prices here may rise 15 to 20 percent for the whole of 2018 \u2013 up from its previous forecast of between 12 and 15\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":70842,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/landed-home-sales-surge-as-prices-drop-to-attractive-levels\/","url_meta":{"origin":96956,"position":1},"title":"Landed home sales surge as prices drop to attractive levels","date":"November 3, 2017","format":false,"excerpt":"\r The ongoing recovery in the housing market saw landed home sales surge in the first 10 months of 2017 as landed property prices fell to attractive levels from their Q3 2013 peak, reported Business Times. Between January and October, the number of landed homes sold stood at 1,513 units,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38699,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/falling-home-prices-a-boon-for-luxury-market\/","url_meta":{"origin":96956,"position":2},"title":"Falling home prices a boon for luxury market","date":"December 21, 2016","format":false,"excerpt":"\r Home sales in the Core Central Region are up 42.6 percent from 2015. Despite the continued drop in private home prices, Singapore\u2019s property market has showed signs of life, with a rejuvenated collective sales market and robust luxury residential sales, reported The New Paper. Data from the Urban Redevelopment\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102395,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapores-rental-market-to-soften-on-lower-expat-arrivals\/","url_meta":{"origin":96956,"position":3},"title":"Singapore\u2019s rental market to soften on lower expat arrivals","date":"December 19, 2018","format":false,"excerpt":"\r Expatriate housing packages have also been on the downtrend in recent years, placing some downward pressure on rental growth.\u00a0 Singapore\u2019s rental market is expected to soften next year on the back of the declining number of expats coming into the city-state. The number of non-residents in Singapore dropped by\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":62298,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/analyst-people-are-buying-because-of-bad-economy\/","url_meta":{"origin":96956,"position":4},"title":"Analyst: People are buying because of bad economy","date":"July 31, 2017","format":false,"excerpt":"\r Buyers and investors continue to put their faith in brick and mortar, says one analyst. Aside from the belief that the property market is bottoming out, the city-state\u2019s uncertain economy has seen investors turning to residential property. \u201cThis may sound counter-intuitive, (but) people are buying because the economy is\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":110136,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-residential-project-launches-rose-23-1-in-q2\/","url_meta":{"origin":96956,"position":5},"title":"Private residential project launches rose 23.1% in Q2","date":"August 23, 2019","format":false,"excerpt":"\r Developers launched 16 new private residential projects in the second quarter of 2019, up 23.1 percent from the 13 projects registered in the first quarter or one of the highest quarterly figures since the fourth quarter of 2013. According to a report by Singapore Business Review citing Savills Singapore,\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\/96956"}],"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=96956"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/96956\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=96956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=96956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=96956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMore: See our Step-by-Step Guide To Buying A Condo
\nHowever, Cheong believes that the government is unlikely to relax the cooling measures in the near term as out of the overall 26 interventions it has made to rein in property prices, only six favoured the market.
\nWhile en bloc sales activity is expected to decline due to the new property curbs, this could lead to developers offering higher prices for state land from 2H 2019 and onwards if the supply of such land released to the market remains low, he added.
\nMore: Estimate your maximum property affordability with our Affordability Calculator
\nOn the other hand, RHBInvest analyst Vijay Natarajan believes that growth of private condo prices will be flat for the second half of this year, while 2019 could record small annual gains of up to 2.0 percent.
\nEugenia Rosaline Shlaen edited this story. To contact her about this or other stories, email eugenia@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Savills still upbeat on outlook over private condo prices<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"