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sea. Jul 18, 2018 – 5:50 AM
Singapore
The actors of the PROPERTY continue to reconcile with the surprise cooling measures that took effect on July 6th. Different views on their impact have been disseminated to Real Estate While Redas sees the additional stamp duty of the buyer (ABSD) on developers as a "big setback" for the real estate market here JLL sees moderate growth in future prices Redas president Augustine Tan warned Tuesday that the cooling measures that were taken on July 6 have increased the cost of homeownership.
Measures include a 5 percent non-refundable tax for developers when they purchase residential properties for development purposes, a higher amount for Singaporeans and PRs who buy their second home and and ABSD higher for entities purchasing residential property.
million. Tan said that buyers' demand for a second residential property will be further mitigated by the measures, exacerbating the high supply situation.
But even the first time He added that homebuyers would face a higher cost of ownership because of lower loan-to-value ratios because they would need more money or expense for their down payments, he said.
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" Real estate markets are influenced by both economic fundamentals and market sentiment. It is therefore imperative to monitor the impact of the new measures as unforeseen consequences may have broader ramifications.
He adds that Redas shares the government's interest in maintaining a stable and sustainable real estate market.
JLL Singapore Tay Huey Ying, who was also present at Redas, argued that an oversupply
According to JLL's estimates, there is an unsold bid of 50,526 units, or 12,632 units each year over the next four years, which will largely correspond to the average annual demand. estimated from 10,566 to 12,159 planned units, the two figures corresponding to the sales volume of last year 's developer and the average annual demand for new customers over the last 10 years. [19659004] forecasts assuming that if cooling measures reduce demand, the expectations of steady growth, the increase in wealth and a healthy job market will continue to support the de [19659004] But proponents will have to accelerate their launches according to market demand in the five years preceding the occurrence of ABSD pentalites.
She also said that there is room for house prices to post moderate growth. continues and there are no shocks like a real trade war.
As for the collective selling market, it is not necessarily finished.
"There is room for a collective selling activity, but …" Developers can expect to reduce supply prices, so for potential sellers of collective sales, it is necessary to readjust the price expectations if they want to get a buyer "
The presenter, Song Seng Wun, an economist at CIMB's private bank, said the demand for buyers remained strong as economic factors Fundamentals continue to support jobs and income growth, but developers sometimes face fewer profits. "The only q inflation is pricing," he said. "We may not be whipping as many properties as we expect at the beginning of the year, but they are still moving."
He said that macroeconomic conditions are stable and positive sentiment on the ground
But there are also downside risks such as rising interest rates and the possibility that a commercial war "begins to materialize" may have prompted policy makers to act
. This allows the market correction to be stable and orderly, "he said. "While they were not doing anything until the market corrected, it could be a recession event caused by … events beyond our control."
By acting early now, the government may still have the option of relaxing. Remember their measures later "if the downside risks materialize significantly" to support the market, he added.
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