Cooling Measures Relaxed, What’s Next?

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The primary home sales market have seen buoyant sales in recent months. Units at newly launched projects such as Clement Canopy, Grandeur Park Residences and Park Places Residences are flying off the shelves. It appears that buyers are not heeding the views of the researchers that property market still has some way to go before the market can reach a bottom. Why do they think so? Read our latest report for our detailed analysis on the Singapore private residential market.

Click here for the full report: 20170329 – Cooling measures relaxed, what’s next – FundPlaces

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Singapore Primary Home Sales Surged 156% in Feb

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Singapore primary home sales in February increased by 156% m-o-m with developers moving a total of 977 units of new homes.  This is the highest number of unit sold in the past four months and a 222% increase year-on-year. The key driver to the buoyant sales was the excellent performance of a newly launched project, called The Clement Canopy at Clementi Avenue 1. Clement Canopy is the first project launched in 2017 and was priced to sell.

Click here to read more: 201702 – Singapore residential market update – FundPlaces

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Too early to unwind cooling measures: Lawrence Wong

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(Source: The Business Times, 12 April 2016) Two members of Parliament again warned of the need to rein back on cooling measures to prevent further decline in home prices. However, Minister for National Development Lawrence Wong echoed the similar reply again that the underlying demand for property in Singapore is still strong, and relaxing the measures too early may risk a premature market rebound. He also said the government will keep a close watch on the market and will be prepared to respond where needed. (more…)

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Dim prospects, ABSD set to cut foreigner home buying again this year

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(Source: The Business Times, 12 Feb 2016) The number of private homes bought by non-resident foreigners dropped 22% in 2015 from 2014. With no sign of any removal or reduction of the additional buyer’s stamp duty (ABSD) rates and rosier prospects at the other international gateway cities, the prospects for 2016 remain glum. However, purchases by permanent residents increased 13.7% in 2015 from 2014, while the number of private homes bought by Singaporeans increased by 12.4%. Among foreign buyers, the Chinese, Malaysians, Indians and Indonesians remained the top buyers.

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Cooling measures review: Market stability and important factor

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(Source: The Business Times, 4 Feb 2016) Market stability is key when accessing property cooling measures and the government will review these policies when risks are less or manageable, Home Affair and Law Minister said at a dialogue session with over 2,000 property agents. He also mentioned that the authorities have a rough idea on when to change the policies, but will not announce it yet. The government is probably not looking at a target level for how much property price should fall but rather market stability.

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