{"id":98205,"date":"2018-09-20T12:39:49","date_gmt":"2018-09-20T05:39:49","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-work-harder-and-take-more-prudent-approach-amidst-property-curbs\/"},"modified":"2018-09-20T13:03:04","modified_gmt":"2018-09-20T06:03:04","slug":"developers-work-harder-and-take-more-prudent-approach-amidst-property-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-work-harder-and-take-more-prudent-approach-amidst-property-curbs\/","title":{"rendered":"Developers work harder and take more prudent approach amidst property curbs"},"content":{"rendered":"


\nIt could take several years for the market to absorb the pipeline supply of private homes.
\nThe government\u2019s latest property cooling measures made it harder for developers to offload the nearly 46,000 private residential units expected to come onstream in 2019 and 2020, said Augustine Tan, president of the Real Estate Developers\u2019 Association of Singapore (Redas).
\nBarring unforeseen circumstances, it could take about five years for the market to absorb the pipeline supply of private homes.
\n\u201cThe new cooling measures have indeed weakened market sentiment and demand as they raised the barrier for entry for all categories of buyers \u2013 from first-timers to investors and foreign buyers,\u201d he said at the association\u2019s annual mid-autumn festival lunch.
\nTan noted that developers will have to differentiate their projects now \u2013 designing them with the buyer\u2019s needs in mind, reported the Business Times.
\n\u201cWe\u2019ve got to work harder, in short. Certainly, pricing will be a factor as well and we\u2019ll have to price more sensitively.\u201d
\nDevelopers would also have to be more prudent with their purchases as well as their capital allocations, he added.
\nMeanwhile, Second Minister for National Development Desmond Lee, who was also at the event, reiterated the government\u2019s rationale for the new property curbs \u2013 to \u201ckeep prices in line with economic fundamentals\u201d.
\n\u201cAs acknowledged by Redas, a large supply of private residential units is coming onstream and interest rates are going up. To avoid a severe correction later, which can have a more destabilising set of consequences, we decided to act earlier to maintain a stable and sustainable property market,\u201d Lee said.
\nLooking to purchase a new home? Read our\u00a0in-depth project reviews\u00a0of all new launches or check out our\u00a0buying or rental guides.
\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…Developers work harder and take more prudent approach amidst property curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

It could take several years for the market to absorb the pipeline supply of private...<\/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-98205","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-pxX","jetpack-related-posts":[{"id":101328,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-averted-a-10-15-growth-in-home-prices\/","url_meta":{"origin":98205,"position":0},"title":"Property cooling measures averted a 10-15% growth in home prices","date":"November 16, 2018","format":false,"excerpt":"\r National Development Minister Lawrence Wong clarified that the government wants to stabilise the property market so that prices may move broadly in line with income growth. While developers may want a \u201ccomplete laissez faire situation\u201d of allowing \u201cthe market to run its own course\u201d, the government cannot take a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":106676,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-hold-steady-despite-property-cooling-measures\/","url_meta":{"origin":98205,"position":1},"title":"Home Prices To Hold Steady Despite Property Cooling Measures","date":"April 29, 2019","format":false,"excerpt":"\r Darren Teo, head of research at Edmund Tie and Company, believes that residential property prices will remain firm even with the latest cooling measures in place. Despite last year\u2019s property cooling measures, Edmund Tie and Company expects residential property prices to remain relatively stable.\u00a0 Prior to the latest cooling\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20908,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/weak-sentiment-continues-to-hurt-spore-property-market\/","url_meta":{"origin":98205,"position":2},"title":"Weak sentiment continues to hurt S\u2019pore property market","date":"July 13, 2016","format":false,"excerpt":"\r Aerial view of high-rise apartment buildings in Singapore. Real Estate Developers\u2019 Association of Singapore (Redas) President Augustine Tan believes weak market sentiment continues to weigh down on Singapore\u2019s property market, reported The Straits Times. He noted that since the government rolled out a slew of property cooling measures from\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":57,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/good-for-buyers-bad-for-developers-hong-kong-property-prices-cooling-amid-oversupply\/","url_meta":{"origin":98205,"position":3},"title":"Good for buyers, bad for developers? Hong Kong property prices cooling amid \u2018oversupply\u2019","date":"December 30, 2015","format":false,"excerpt":"\r The government is poised to beat its land supply target for the private sector to build 19,000 new homes this year by 1,300 flats, but it could put extra pressure on the property market which is already facing a downturn.\r \r Source : South China Morning Post\r Read more...Good\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":93763,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/developers-not-to-cut-prices-massively-but-will-be-more-flexible\/","url_meta":{"origin":98205,"position":4},"title":"Developers not to cut prices massively, but will be more \u201cflexible\u201d","date":"July 13, 2018","format":false,"excerpt":"\r Despite the government\u2019s introduction of new property cooling measures, developers have no plan of slashing home prices massively. GuocoLand group chief financial officer Richard Lai revealed that the company has \u201cno intention\u201d to cut property prices, although they will be \u201cmore flexible\u201d when selling homes that are less attractive\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":105789,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-prices-to-remain-flattish-this-year-report\/","url_meta":{"origin":98205,"position":5},"title":"Home prices to remain flattish this year: report","date":"April 5, 2019","format":false,"excerpt":"\r Analysis of new launches showed low take-up rates at launch weekends of 10 to 20 percent compared to 30 to 60 percent in previous years. With muted price growth expectations for residential properties, RHB Research expects no near-term catalysts for developers with large local market exposure. This comes as\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\/98205"}],"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=98205"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98205\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}