{"id":98738,"date":"2018-09-28T12:46:16","date_gmt":"2018-09-28T05:46:16","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-deemed-fairly-valued\/"},"modified":"2018-09-28T13:03:07","modified_gmt":"2018-09-28T06:03:07","slug":"singapore-housing-market-deemed-fairly-valued","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-deemed-fairly-valued\/","title":{"rendered":"Singapore housing market deemed fairly valued"},"content":{"rendered":"


\nView of private residential properties in Singapore.
\nSingapore, along with Milan and Boston, were deemed fairly valued by UBS Group in its Global Real Estate Bubble Index.
\nThe 20-city index listed Chicago as the only undervalued housing market, reported Bloomberg. 10 cities, including New York, Tokyo and Sydney, were considered overvalued, while six were in bubble-risk territory, with the housing market in Hong Kong being the most inflated.
\nRead our\u00a0Step-by-Step Guide\u00a0to buying a condo
\nAccording to the report, typical signs of a bubble include property prices increasing out of sync with incomes and economic imbalances, such as excessive construction and lending activity.
\nBut unlike the boom during the mid-2000s, no evidence of simultaneous excesses in construction and lending were seen, while outstanding mortgage volumes were rising at around half the rate of the pre-crisis period.
\n\u201cAlthough many financial centres remain at risk of a housing bubble, we should not compare today\u2019s situation with pre-crisis conditions,\u201d said UBS Global Wealth Management chief investment officer Mark Haefele.
\nThe Swiss bank\u2019s report noted that affordability continued to be a key concern even though prices are not growing as fast as in previous years. In fact, most cities saw house prices increase 35 percent on average over the last five years.
\nMoreover, incomes are not rising fast enough to keep pace with prices in most areas. In Hong Kong, for instance, it would take 22 years of the average annual income for a skilled service worker to acquire a 60 sq m apartment near the city centre. This is a significant increase from 12 years a decade ago.
\nBuying real estate in other cities is more feasible \u2013 at 5.7 years of annual income in Milan and under five years in Boston, Chicago and Los Angeles.
\nCan you afford a condo in Singapore? 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…Singapore housing market deemed fairly valued<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

View of private residential properties in Singapore. Singapore, along with Milan and Boston, were deemed...<\/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-98738","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-pGy","jetpack-related-posts":[{"id":111471,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-housing-market-remains-in-fair-valued-zone\/","url_meta":{"origin":98738,"position":0},"title":"Singapore housing market remains in fair-valued zone","date":"October 9, 2019","format":false,"excerpt":"\r \u00a0 Singapore was cited as the country with the most improved housing market with regard to affordability. The cooling measures, declining population growth, and expected economic downturn are three factors that have caused prices to stagnate and lower number of transactions.\u00a0\u00a0 Singapore\u2019s housing market retains its position in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2019\/10\/UBS-Global-Real-Estate-Bubble-Index-2019.png?fit=559%2C305&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":27465,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hong-kong-has-least-affordable-housing-remains-at-risk-of-bubble-says-ubs\/","url_meta":{"origin":98738,"position":1},"title":"Hong Kong has least affordable housing, remains at risk of bubble, says UBS","date":"September 27, 2016","format":false,"excerpt":"\r Hong Kong has the least affordable housing among global financial centres featured in a study by UBS, and is at risk of a bubble, despite prices dipping slightly since last year. The city\u2019s residential property has the highest price-to-income among the 18 financial hubs surveyed in the annual UBS\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":119341,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/new-zealand-reimposes-lending-curbs-over-housing-bubble-fears\/","url_meta":{"origin":98738,"position":2},"title":"New Zealand reimposes lending curbs over housing bubble fears","date":"November 25, 2020","format":false,"excerpt":"\r Property prices rise 20% during worst recession since second world war\r \r Source : ft.com\r Read more...New Zealand reimposes lending curbs over housing bubble fears","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":82088,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/a-housing-bubble-is-unlikely-report\/","url_meta":{"origin":98738,"position":3},"title":"A housing bubble is unlikely, report","date":"March 7, 2018","format":false,"excerpt":"\r OrangeTee believes that Singapore will unlikely see a housing bubble even as property prices have increased amidst higher land cost and robust demand, reported Singapore Business Review. This comes as the overall transaction volume for the first two months of 2018 is still significantly lower compared to the previously\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":50952,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/australias-banking-watchdog-will-take-action-on-debt-inspired-bubble-in-housing-market\/","url_meta":{"origin":98738,"position":4},"title":"Australia\u2019s banking watchdog will take action on debt inspired bubble in housing market","date":"April 5, 2017","format":false,"excerpt":"\r Australia\u2019s banking watchdog said on Wednesday that authorities can and will take further action if needed to stop a debt-fuelled bubble in the country\u2019s red-hot housing market. Wayne Byres, chairman of the Australian Prudential Regulatory Authority (APRA), said measures announced last week were aimed at promoting prudent lending and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":6220,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/big-shorts-version-of-housing-bubble-entertains-but-reality-disappoints\/","url_meta":{"origin":98738,"position":5},"title":"Big Short's version of housing bubble entertains but reality disappoints","date":"February 28, 2016","format":false,"excerpt":"\r Across the US worries of a new real estate bubble are mounting as Oscars contender\u2019s stars and producers prepare for big night One of the contenders for best picture at the Oscars is The Big Short, the saga of just how we merrily raced off the side of a\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\/98738"}],"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=98738"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/98738\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=98738"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=98738"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=98738"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}