{"id":99766,"date":"2018-10-12T11:31:20","date_gmt":"2018-10-12T04:31:20","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-checking-impact-of-new-property-curbs\/"},"modified":"2018-10-13T17:02:48","modified_gmt":"2018-10-13T10:02:48","slug":"mas-checking-impact-of-new-property-curbs","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-checking-impact-of-new-property-curbs\/","title":{"rendered":"MAS checking impact of new property curbs"},"content":{"rendered":"


\nThe central bank\u2019s head thinks it will take at least two to three quarters to fully understand the implications of the latest property cooling measures.
\nAfter the government imposed a \u201cdecisive set of measures\u201d on 6 July, the Monetary Authority of Singapore (MAS) is keeping a close watch on the private residential sector.
\n\u201cThe property market always warrants close watching, whichever direction it is inching towards,\u201d said the central bank\u2019s managing director Ravi Menon in a recent interview with Bloomberg.
\nMore: Govt Cools Property Market With Higher ABSD Rates, Tighter LTV Limits
\n\u201cIt\u2019s too early to tell what the implications from the last round of tightening measures are. It will take at least two to three quarters for the full implications to be understood. So we are watching that closely.\u201d
\nHe said it was not sustainable that private home prices were increasing significantly amid rising interest rates and slowing growth in the country\u2019s gross domestic product (GDP).
\nAccording to data from the Urban Redevelopment Authority, private home prices in the city-state rose by 3.9 percent quarter-on-quarter in Q1 2018, or the highest quarterly price gain since Q2 2010. The growth then decreased slightly to 3.4 percent in the second quarter.
\nMoreover, Singapore was ranked as the world\u2019s sixth most expensive city in Bloomberg\u2019s annual global city housing affordability index.
\n\u201cThe property market, before we implemented the cooling measures, was pretty hot. This was a wrong time to see a renewed property bubble. Not that there was a bubble, but we wanted to pre-empt that,\u201d noted Menon.
\nBut after the new curbs took effect, the latest flash estimates released earlier this month showed that quarterly growth in private home prices significantly slowed down to 0.5 percent in Q3 2018, or the slowest pace in five quarters.
\nAt the same time, en bloc sales of private residential projects plunged by 90.71 percent to $353 million in the third quarter compared to $3.8 billion in the quarter before.
\nThe new cooling measures \u201cwere taken at a time when we already knew about the risks facing the economy. We also knew and expected that growth was going to moderate gently into the second half of this year. So all those were taken into account,\u201d Menon added.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.
\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…MAS checking impact of new property curbs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The central bank\u2019s head thinks it will take at least two to three quarters to...<\/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-99766","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-pX8","jetpack-related-posts":[{"id":20856,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/not-time-yet-to-lift-property-cooling-measures-mas\/","url_meta":{"origin":99766,"position":0},"title":"Not time yet to lift property cooling measures: MAS","date":"July 26, 2016","format":false,"excerpt":"\r Singapore\u2019s property cooling measures won\u2019t be removed anytime soon. It is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS). \u201cThere is still some way to go, to entrench the gains in stabilising the property market and restoring household debt sustainability,\u201d\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":21108,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-singapores-property-cooling-measures-wont-be-removed-anytime-soon\/","url_meta":{"origin":99766,"position":1},"title":"Why Singapore\u2019s property cooling measures won\u2019t be removed anytime soon","date":"July 27, 2016","format":false,"excerpt":"\r \u201cThere is still some way to go\u201d Is it the right time to remove the cooling measures in Singapore? It is not the right time to ease the property cooling measures, revealed the Monetary Authority of Singapore (MAS). \u201cThere is still some way to go, to entrench the gains\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":102872,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-impact-bigger-than-expected\/","url_meta":{"origin":99766,"position":2},"title":"Property cooling measures\u2019 impact bigger than expected","date":"January 11, 2019","format":false,"excerpt":"\r DBS bank\u2019s property loans segment has dropped by 40 to 50 percent since the latest cooling measures were announced. The government\u2019s surprise property cooling measures in July 2018 had \u201cmore bite\u201d than anticipated, with DBS bank\u2019s property loans segment dropping by 40 to 50 percent \u2013 way below the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":103306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/singapore-mortgage-demand-significantly-dented\/","url_meta":{"origin":99766,"position":3},"title":"Singapore mortgage demand significantly dented","date":"January 25, 2019","format":false,"excerpt":"\r Rising interest rates and new property cooling measures have significantly dented mortgage demand. Rising interest rates and the government\u2019s surprise property cooling measures in July have significantly dented mortgage demand at Singapore\u2019s banks, threatening to further accelerate the decline in house prices, reported Bloomberg. In the first 11 months\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40874,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-market-stabilising-says-mas-chief\/","url_meta":{"origin":99766,"position":4},"title":"Property market stabilising, says MAS chief","date":"January 17, 2017","format":false,"excerpt":"\r Property prices in Singapore surged from 2009 to 2013, but have fallen by around 11 percent since then. The various property cooling measures rolled out by the government have been effective in stabilising Singapore\u2019s once soaring property market, reported CNBC citing the central bank\u2019s chief. From 2009 to 2013,\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":104147,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/dbs-bank-misses-mortgage-growth-forecast-for-2018\/","url_meta":{"origin":99766,"position":5},"title":"DBS Bank misses mortgage growth forecast for 2018","date":"February 19, 2019","format":false,"excerpt":"\r The bank\u2019s mortgage business continues to be slow. Growth in DBS Bank\u2019s housing loans business weakened further than expected last year following the introduction of new property cooing measures in July, reported the Business Times. Despite revising its original full-year forecast of $4 billion to $2.5 billion when it\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\/99766"}],"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=99766"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/99766\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=99766"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=99766"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=99766"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}