Singapore Home Sales Fall on Lack of Projects in Cooling Market

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Singapore Home Sales Fall on Lack of Projects in Cooling Market

Bloomberg03-15

Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the ...

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romanc9
·03-15
Now you buy open market, some are cheaper per sqft than new projects. The new launch are priced at future pricing, not at present market.. The cooling measures will only be lifted when the property market go into slump mode and force sell by the banks not individual Developers will force to priced reasonable or even may be in a lost deal in order to prevent the ABSD penalty in order for the market to go into correction mode. So good to hear that home sales is falling..
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joekenny
·03-15
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ThomasW
·03-15
Joker write an article to urge government to stop cooling measure when most house are not sold due to the high prices set by developers and marketed by unscrupulous agents. Feb is a short month, how short? 10 days?
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That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.</p><p style=\"text-align: start;\">Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.</p><p style=\"text-align: start;\">“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. 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That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. Still, she added that February was a shorter month and dominated by the Lunar New Year holiday, with no major launches by developers, making March a more accurate gauge for demand.While rival financial hub Hong Kong recently scrapped curbs on its property market, granting it a reprieve from a major slump, Singapore hasn’t followed suit. The city-state’s annual budget announced last month featured little aimed at stimulating demand.In the budget, the government lowered a penalty imposed on builders that don’t sell projects in time. But the country’s main developer association REDAS said it hoped for further reductions in the so-called clawback rate “to alleviate the severe hardship and pressure some projects and developers are facing.”The high-end property segment has been pummeled in particular, after a 60% stamp duty imposed on foreigners last year. 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That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.</p><p style=\"text-align: start;\">Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.</p><p style=\"text-align: start;\">“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. Still, she added that February was a shorter month and dominated by the Lunar New Year holiday, with no major launches by developers, making March a more accurate gauge for demand.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/99c5cf06b77c66a3235ef1bba7ef971a\" tg-width=\"953\" tg-height=\"593\"/></p><p>While rival financial hub Hong Kong recently scrapped curbs on its property market, granting it a reprieve from a major slump, Singapore hasn’t followed suit. The city-state’s annual budget announced last month featured little aimed at stimulating demand.</p><p>In the budget, the government lowered a penalty imposed on builders that don’t sell projects in time. But the country’s main developer association REDAS said it hoped for further reductions in the so-called clawback rate “to alleviate the severe hardship and pressure some projects and developers are facing.”</p><p style=\"text-align: start;\">The high-end property segment has been pummeled in particular, after a 60% stamp duty imposed on foreigners last year. Cuscaden Reserve, a luxury project near the Orchard shopping belt, has sold just 12 of its 192 units completed last year, according to URA data, with apartments now being offered at discounts of as much as 20%.</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 Fall on Lack of Projects in Cooling Market</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 Fall on Lack of Projects in Cooling Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-15 14:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp\">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/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120474759","content_text":"Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the Urban Redevelopment Authority show. That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. Still, she added that February was a shorter month and dominated by the Lunar New Year holiday, with no major launches by developers, making March a more accurate gauge for demand.While rival financial hub Hong Kong recently scrapped curbs on its property market, granting it a reprieve from a major slump, Singapore hasn’t followed suit. The city-state’s annual budget announced last month featured little aimed at stimulating demand.In the budget, the government lowered a penalty imposed on builders that don’t sell projects in time. But the country’s main developer association REDAS said it hoped for further reductions in the so-called clawback rate “to alleviate the severe hardship and pressure some projects and developers are facing.”The high-end property segment has been pummeled in particular, after a 60% stamp duty imposed on foreigners last year. Cuscaden Reserve, a luxury project near the Orchard shopping belt, has sold just 12 of its 192 units completed last year, according to URA data, with apartments now being offered at discounts of as much as 20%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":284583726633160,"gmtCreate":1710484535326,"gmtModify":1710486160843,"author":{"id":"3558396283993528","authorId":"3558396283993528","name":"ThomasW","avatar":"https://static.tigerbbs.com/a8372efea1839b36860d65bfb69ba31a","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Joker write an article to urge government to stop cooling measure when most house are not sold due to the high prices set by developers and marketed by unscrupulous agents. Feb is a short month, how short? 10 days?&nbsp;","listText":"Joker write an article to urge government to stop cooling measure when most house are not sold due to the high prices set by developers and marketed by unscrupulous agents. Feb is a short month, how short? 10 days?&nbsp;","text":"Joker write an article to urge government to stop cooling measure when most house are not sold due to the high prices set by developers and marketed by unscrupulous agents. Feb is a short month, how short? 10 days?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/284583726633160","repostId":1120474759,"repostType":2,"repost":{"id":"1120474759","pubTimestamp":1710484200,"share":"https://www.laohu8.com/m/news/1120474759?lang=&edition=full","pubTime":"2024-03-15 14:30","market":"sg","language":"en","title":"Singapore Home Sales Fall on Lack of Projects in Cooling Market","url":"https://stock-news.laohu8.com/highlight/detail?id=1120474759","media":"Bloomberg","summary":"Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the ","content":"<html><head></head><body><p>Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.</p><p style=\"text-align: start;\">Developers sold 149 new private homes last month, figures released Friday by the Urban Redevelopment Authority show. That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.</p><p style=\"text-align: start;\">Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.</p><p style=\"text-align: start;\">“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. Still, she added that February was a shorter month and dominated by the Lunar New Year holiday, with no major launches by developers, making March a more accurate gauge for demand.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/99c5cf06b77c66a3235ef1bba7ef971a\" tg-width=\"953\" tg-height=\"593\"/></p><p>While rival financial hub Hong Kong recently scrapped curbs on its property market, granting it a reprieve from a major slump, Singapore hasn’t followed suit. The city-state’s annual budget announced last month featured little aimed at stimulating demand.</p><p>In the budget, the government lowered a penalty imposed on builders that don’t sell projects in time. But the country’s main developer association REDAS said it hoped for further reductions in the so-called clawback rate “to alleviate the severe hardship and pressure some projects and developers are facing.”</p><p style=\"text-align: start;\">The high-end property segment has been pummeled in particular, after a 60% stamp duty imposed on foreigners last year. Cuscaden Reserve, a luxury project near the Orchard shopping belt, has sold just 12 of its 192 units completed last year, according to URA data, with apartments now being offered at discounts of as much as 20%.</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 Fall on Lack of Projects in Cooling Market</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 Fall on Lack of Projects in Cooling Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-03-15 14:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp\">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/2024-03-15/singapore-home-sales-fall-on-lack-of-projects-in-cooling-market?srnd=markets-vp","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1120474759","content_text":"Singapore home sales fell in February on a lack of new project launches, adding to evidence that the market is cooling.Developers sold 149 new private homes last month, figures released Friday by the Urban Redevelopment Authority show. That’s the fewest on record for the month of February, and down from the 281 sold in January. Monthly sales data only began being released in mid-2007.Singapore’s residential property market, which boomed during the pandemic, is now slowing as high interest rates and curbs introduced by the government in recent years continue to bite.“The market is slowing down across the board,” said Christine Sun, chief researcher and strategist at real estate agency OrangeTee Group. Still, she added that February was a shorter month and dominated by the Lunar New Year holiday, with no major launches by developers, making March a more accurate gauge for demand.While rival financial hub Hong Kong recently scrapped curbs on its property market, granting it a reprieve from a major slump, Singapore hasn’t followed suit. The city-state’s annual budget announced last month featured little aimed at stimulating demand.In the budget, the government lowered a penalty imposed on builders that don’t sell projects in time. But the country’s main developer association REDAS said it hoped for further reductions in the so-called clawback rate “to alleviate the severe hardship and pressure some projects and developers are facing.”The high-end property segment has been pummeled in particular, after a 60% stamp duty imposed on foreigners last year. Cuscaden Reserve, a luxury project near the Orchard shopping belt, has sold just 12 of its 192 units completed last year, according to URA data, with apartments now being offered at discounts of as much as 20%.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":2,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}