Singapore Home Sales Plunge Again Due to Lack of Supply

Bloomberg09-16

Sales of new private homes halved to 208 units in AugustDevelopers have turned cautious amid high interest ratesA brief recovery in Singapore new home-sales ran out of steam as transactions fell to ...

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Princesgp
09-16
Princesgp
ABSD was made temporary to curb rising prices but now it is permanent tax for last 12 years ! And it's going up ! The income gap is arriving. It needs to be removed for revival of property market.

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It needs to be removed for revival of property market.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/349990933266800","repostId":1151108045,"repostType":2,"repost":{"id":"1151108045","kind":"news","pubTimestamp":1726462769,"share":"https://ttm.financial/m/news/1151108045?lang=&edition=fundamental","pubTime":"2024-09-16 12:59","market":"sg","language":"en","title":"Singapore Home Sales Plunge Again Due to Lack of Supply","url":"https://stock-news.laohu8.com/highlight/detail?id=1151108045","media":"Bloomberg","summary":"Sales of new private homes halved to 208 units in AugustDevelopers have turned cautious amid high interest ratesA brief recovery in Singapore new home-sales ran out of steam as transactions fell to it","content":"<html><head></head><body><ul style=\"\"><li><p>Sales of new private homes halved to 208 units in August</p></li><li><p>Developers have turned cautious amid high interest rates</p></li></ul><p>A brief recovery in Singapore new home-sales ran out of steam as transactions fell to its lowest level since February.</p><p>Sales of new private homes dropped to 208 in August, more than halving from the 571 units sold a month before. It was also down about 47% from a year ago.</p><p>Transaction numbers have been hindered by the lack of major residential projects for sale, as developers turn cautious amid high interest rates and multiple housing curbs. So far, that hasn’t translated to a drop in prices, with sales, particularly in the second-hand market, propping up valuations.</p><p>Most developers are waiting for home-buyers’ enthusiasm and more risk appetite to return,” said Nicholas Mak, the chief research officer at Mogul.sg, a property portal. “Now it’s still ‘not yet, hopefully soon.’”</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/86e964f9f419e7daada6a87b82014dd3\" tg-width=\"641\" tg-height=\"383\"/></p><p>Demand will be tested in the coming months, with 56.2% of developers expecting a moderately or substantially higher number of units to be launched in the second half, according to a June quarterly survey of senior executives in the Singapore real estate and development industry.</p><p>Meanwhile, Singapore is releasing the most private housing supply in over a decade this year, as it continues to grapple with voters’ concern over housing affordability.</p><p>The same questionnaire found that concern about more government curbs is rising too, with 30.8% of respondents indicating it as a potential risk. That’s up from 11.8% in the previous quarter.</p><p>Authorities have so far downplayed the need for more measures in the private market, but said they will “act decisively” if such a need appears.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Home Sales Plunge Again Due to Lack of Supply</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Home Sales Plunge Again Due to Lack of Supply\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-16 12:59 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-09-16/singapore-home-sales-plunge-again-due-to-lack-of-supply><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Sales of new private homes halved to 208 units in AugustDevelopers have turned cautious amid high interest ratesA brief recovery in Singapore new home-sales ran out of steam as transactions fell to ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-09-16/singapore-home-sales-plunge-again-due-to-lack-of-supply\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2024-09-16/singapore-home-sales-plunge-again-due-to-lack-of-supply","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1151108045","content_text":"Sales of new private homes halved to 208 units in AugustDevelopers have turned cautious amid high interest ratesA brief recovery in Singapore new home-sales ran out of steam as transactions fell to its lowest level since February.Sales of new private homes dropped to 208 in August, more than halving from the 571 units sold a month before. It was also down about 47% from a year ago.Transaction numbers have been hindered by the lack of major residential projects for sale, as developers turn cautious amid high interest rates and multiple housing curbs. So far, that hasn’t translated to a drop in prices, with sales, particularly in the second-hand market, propping up valuations.Most developers are waiting for home-buyers’ enthusiasm and more risk appetite to return,” said Nicholas Mak, the chief research officer at Mogul.sg, a property portal. “Now it’s still ‘not yet, hopefully soon.’”Demand will be tested in the coming months, with 56.2% of developers expecting a moderately or substantially higher number of units to be launched in the second half, according to a June quarterly survey of senior executives in the Singapore real estate and development industry.Meanwhile, Singapore is releasing the most private housing supply in over a decade this year, as it continues to grapple with voters’ concern over housing affordability.The same questionnaire found that concern about more government curbs is rising too, with 30.8% of respondents indicating it as a potential risk. 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