{"id":99790,"date":"2018-10-11T11:09:43","date_gmt":"2018-10-11T04:09:43","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-decimated-en-bloc-sales-market\/"},"modified":"2018-10-14T08:02:49","modified_gmt":"2018-10-14T01:02:49","slug":"property-cooling-measures-decimated-en-bloc-sales-market","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-cooling-measures-decimated-en-bloc-sales-market\/","title":{"rendered":"Property cooling measures decimated en bloc sales market"},"content":{"rendered":"


\nTwo en bloc redevelopment sales worth $353 million were completed in the third quarter, way lower than the $3.8 billion registered during the previous quarter, data shows.\u00a0
\nSingapore\u2019s latest round of property cooling measures proved effective in cooling its red-hot collective sales market.
\nIn fact, only two en bloc redevelopment sales worth $353 million were completed in the third quarter, way lower than the $3.8 billion worth of transactions registered during the previous quarter, reported Bloomberg citing data compiled by Cushman & Wakefield.
\nMore:\u00a0Developers\u2019 En Bloc Appetite Diminishing: RHB
\nThis sent real estate investment sales plummeting 42 percent to $6.5 billion in Q3.
\n\u201cThe collective sales market was decimated after the recent cooling measures,\u201d said Christine Li, Cushman & Wakefield\u2019s head of research for Singapore.
\nThe introduction of the additional curbs saw private home prices climb at the slowest pace in five quarters. The government made the move to cool the property market in July following a steep hike in prices during the first six months of 2018.
\nThe rebound in prices after a four-year slump stoked aggressive land bids among developers, which led to an explosion of collective sales. Under the new rules, the Additional Buyer\u2019s Stamp Duty was raised to 30 percent for developers \u2013 making it costlier for them to redevelop older properties.
\nMeanwhile, industrial and commercial property helped prop up real estate investment sales. Industrial property deals soared 73 percent to $1.2 billion in Q3, while office sales jumped 54 percent to $2.1 billion.
\n\u201cClearly these two sectors emerged as winners from the recent fallout in the residential sector,\u201d said Li, who expects both industrial and commercial property to continue to attract interest in the near-term as developers seek diversification and liquidity remains high.
\nMore:\u00a0Understanding The En Bloc Process (August 2018)
\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…Property cooling measures decimated en bloc sales market<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two en bloc redevelopment sales worth $353 million were completed in the third quarter, way...<\/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-99790","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-pXw","jetpack-related-posts":[{"id":93607,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/en-bloc-plans-push-through-while-others-put-on-hold-amid-new-curbs\/","url_meta":{"origin":99790,"position":0},"title":"En bloc plans push through while others put on hold amid new curbs","date":"July 11, 2018","format":false,"excerpt":"\r Homeowners of Dalvey Court have been advised to extend the tender closing date in light of new cooling measures by the government Homeowners eyeing to go on en bloc have put their plans on hold or went back to the drawing board to devise new strategies amid the uncertainties\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95641,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/collective-sales-success-rate-down-despite-increased-activity\/","url_meta":{"origin":99790,"position":1},"title":"Collective sales success rate down despite increased activity","date":"August 8, 2018","format":false,"excerpt":"\r Property developers in Singapore have become more selective with their acquisitions. Despite the increased activity in the collective sales market, the success rate for en bloc sales has fallen significantly compared to 2016 and 2017 levels, reported Singapore Business Review citing Savills Asia. This comes as developers have become\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":100494,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-plunge-63-in-q3\/","url_meta":{"origin":99790,"position":2},"title":"Residential investment sales plunge 63% in Q3","date":"October 25, 2018","format":false,"excerpt":"\r Investment sales in the residential sector plunged to $2.2 billion due to a lackluster en bloc market. Overall property investment sales in Singapore declined from nearly $10 billion in the previous quarter to $6.5 billion in Q3 2018 following the introduction of new property cooling measures in July, according\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":95997,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/residential-investment-sales-expected-to-slow-down-in-second-half\/","url_meta":{"origin":99790,"position":3},"title":"Residential investment sales expected to slow down in second half","date":"August 14, 2018","format":false,"excerpt":"\r Overall real estate investment sales in Singapore rose 11 percent quarter-on-quarter and 19 percent year-on-year to $12.2 billion in Q2 2018, driven mainly by the residential sector, which accounted for 67 percent of the overall transactions, according to a new report from Colliers International. The largest transaction was the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97824,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/fewer-en-bloc-transactions-expected-for-the-rest-of-2018\/","url_meta":{"origin":99790,"position":4},"title":"Fewer en bloc transactions expected for the rest of 2018","date":"September 14, 2018","format":false,"excerpt":"\r There was about $10.5 billion worth of en bloc deals in the first half of 2018. With the en bloc fever driving real estate activity in the first half of the year, the government\u2019s surprise property cooling measures in July dealt a huge blow on the bullish collective sales\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":99766,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mas-checking-impact-of-new-property-curbs\/","url_meta":{"origin":99790,"position":5},"title":"MAS checking impact of new property curbs","date":"October 12, 2018","format":false,"excerpt":"\r The 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. After the government imposed a \u201cdecisive set of measures\u201d on 6 July, the Monetary Authority of Singapore (MAS) is keeping a close watch on\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\/99790"}],"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=99790"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/99790\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=99790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=99790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=99790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}