Участник:BedellHerron26
This short article takes a peek at the some of the latest property price trends in Singapore.
Most indicators suggest that prices continue to head north.
The quarterly price index compiled by the Urban Redevelopment Authority (URA), demonstrated that prices of private residential properties rose by 0.6 per cent in the third quarter of 2012; whereas the cost increase was just 0.4 per cent within the second quarter of 2012.
A similar upward trend was spotted within the National University of Singapore (NUS) Singapore Residential Price Index (SRPI), developed by the Institution of Real Estate Studies. Unlike the cost index of URA, SRPI is really a monthly index that only looks at the price movements of private non-landed homes. The URA price index, however, covers different categories of properties. Specifically, for private non-landed homes, the URA index shows a cost increase of 0.5 percent for 2 consecutive quarters (ie. 2Q2012 and 3Q2012). SRPI reflected a 0.6 per cent increase for September 2012.
Meanwhile for Singapore's public housing landscape, the HDB Resale Price Index showed a steady rise in HDB resale prices from the first quarter of the year; with numbers standing around 0.6, 1.3 and 2 per cent for that first, second and third quarters, respectively
Based on a study with a NUS don, Assoc Prof Tilak Abeysinghe, Singapore's real estate prices have been rising above the affordable level of a 4 per cent increase annually. The dpi is reached based on the lifetime incomes of Singaporeans.
"The actual median cost of both private and HDB units has risen by about 11 per cent a year ever since then [sic mid-2006], greater than the popularity price increase of about 8 percent annually." ("Inflated Housing Prices Should Ease")
The continual increase in real estate prices, along with quantitative easing policies in the US, Japan and Europe, have prompted the Governments in Singapore, Malaysia and Hong Kong to implement cooling measures to avoid property buyers from over-stretching themselves. For Singapore, on 6 October, the Monetary Authority of Singapore (Singapore's central bank) announced a lowering of the loan-to value ratio (LTV), for loan tenure that exceeds 30 years or extends beyond the age of 65, to 60 per cent for that first housing loan and 40 percent for subsequent loans. The maximum loan tenure has also been limited to 35 years. This is the Singapore's Government sixth attempt for lowering property prices since September 2009. It remains seen if this latest round of cooling measures will prove good at reining in prices.
On the more positive note, based on Assoc Prof Tilak Abeysinghe:
"As housing supply improves within the years to come and also the immigrant population declines, don't be surprised house price inflation to fall for an affordable trend rate like 4 percent." ("Inflated Housing Prices Should Ease")
On the similar note, URA's latest figures for October says sales volume for private residences have dipped. This really is believed to be partly due to the Government's newest cooling measures. Sales figures - excluding executive condominiums - showed a 26 per cent month-on-month decline. In absolute terms, 1,948 units were sold in October compared to 2,621 in the previous month ("New Private Home Sales Cool Rapidly in October").
Looking ahead, more property launches are required prior to the close of the year, but analysts are expecting sales to continue to moderate because of the festive mood, tighter loan regulations so that as buyers size up rise in the home market.
