






{"id":13742,"date":"2021-04-27T10:59:28","date_gmt":"2021-04-27T03:59:28","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=12146"},"modified":"2021-06-04T16:12:17","modified_gmt":"2021-06-04T09:12:17","slug":"singapore-private-property-prices-increase-3-3-in-q1","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/singapore-private-property-prices-increase-3-3-in-q1\/","title":{"rendered":"Singapore private property prices increase 3.3% in Q1"},"content":{"rendered":"<p><span data-contrast=\"auto\">This\u00a0<\/span><span data-contrast=\"auto\">price hike is the steepest increase since Q2\u00a0<\/span><span data-contrast=\"auto\">2018\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_12147\" aria-describedby=\"caption-attachment-12147\" style=\"width: 1000px\" class=\"wp-caption alignnone\"><img decoding=\"async\" class=\"wp-image-12147 size-full\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/04\/shutterstock_1694895373.jpg\" alt=\"\" width=\"1000\" height=\"667\" \/><figcaption id=\"caption-attachment-12147\" class=\"wp-caption-text\">The 6.7 percent quarter-on-quarter increase in landed property prices\u00a0was the main\u00a0attribute of the hike. Source: W1snu.com\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"auto\">Data from Urban Redevelopment Authority showed that Singapore\u2019s property market<\/span><span data-contrast=\"auto\">\u00a0remained optimistic in the first quarter of 2021, as prices of private residential property increased by 3.3 percent quarter-on-quarter, reported\u00a0<a href=\"https:\/\/www.propertyguru.com.sg\/property-management-news\/2021\/4\/198098\/private-home-prices-up-3-3-in-q1-its-steepest-increase-since-q2-2018\" target=\"_blank\" rel=\"noopener\">PropertyGuru<\/a><\/span><span data-contrast=\"auto\">\u00a0<a href=\"https:\/\/www.propertyguru.com.sg\/property-management-news\/2021\/4\/198098\/private-home-prices-up-3-3-in-q1-its-steepest-increase-since-q2-2018\" target=\"_blank\" rel=\"noopener\">Singapore<\/a>.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">This price hike indicates the fourth-quarter increase and is the sharpest growth rate since the second quarter of 2018.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Dr. Tan Tee Khoon, country manager at <\/span><span data-contrast=\"auto\">PropertyGuru<\/span><span data-contrast=\"auto\"> Singapore, said the 6.7 percent quarter-on-quarter increase in landed property prices <\/span><span data-contrast=\"auto\">was the main\u00a0<\/span><span data-contrast=\"auto\">attribute of the hike. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Non-landed property prices also jumped in Q1 2021 by 2.5 percent.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cThis is significant, especially considering that the region already saw a 4.4<\/span><span data-contrast=\"none\">\u00a0percent\u00a0<\/span><span data-contrast=\"none\">quarter-on-quarter increase in the previous quarter,\u201d added Dr. Tan. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Resale volumes of private residential properties were also up from 4,249\u00a0<\/span><span data-contrast=\"none\">in Q4 2020\u00a0<\/span><span data-contrast=\"none\">to 4,519\u00a0units<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Christine Sun, senior vice president of research and analytics at\u00a0<\/span><span data-contrast=\"none\">OrangeTee<\/span><span data-contrast=\"none\">\u00a0&amp; Tie, mentioned that Singapore<\/span><span data-contrast=\"none\">\u2019s property market<\/span><span data-contrast=\"none\">\u00a0is seeing the return of foreign buyers<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Non-permanent residents (non-PRs) purchased 281 non-landed homes, excluding executive condominiums (ECs), in Q1 2021, a jump from the 199 units sold in Q4 2020.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cThis is also the highest volume inked since Q4 2019 when 284 units were sold then. In terms of proportion, the percentage of non-landed homes bought by non-PRs rose to 4.1<\/span><span data-contrast=\"none\">\u00a0percent\u00a0<\/span><span data-contrast=\"none\">in Q1 2021, from 3.3<\/span><span data-contrast=\"none\">\u00a0percent\u00a0<\/span><span data-contrast=\"none\">in Q4 2020 and 3.6<\/span><span data-contrast=\"none\">\u00a0percent\u00a0<\/span><span data-contrast=\"none\">in Q3 2020,\u201d said Sun.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Non-landed ho<\/span><span data-contrast=\"none\">m<\/span><span data-contrast=\"none\">es bought by permanent residents (PRs) also rose by 28.2 percent<\/span><span data-contrast=\"none\">\u00a0quarter-on-quarter to 1,118 units.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Mainland Chinese, both PRs and Non-PRs, continue to be Singapore\u2019s top foreign investors,\u00a0<\/span><span data-contrast=\"none\">followed by Malaysian and Indian buyers.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">In the meantime, Dr. Tan believes this property shopping fever is likely dr<\/span><span data-contrast=\"none\">iven by HDB upgraders rather than the low-interest-rate environment.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.asiapropertyawards.com\/en\/cambodian-town-generates-high-hopes-for-investment\/\" target=\"_blank\" rel=\"noopener\"><strong>More: Cambodian town generates high hopes for investment<\/strong><\/a><\/p>\n<p><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">\u201cThe government has been urging property seekers to exercise caution amid the current low-interest-rate environment. While easy access to affordable credit may be attractive to home buyers, it is unlikely to be the root cause of the current market vibrancy,\u201d he said.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">He said the strong demand is probably\u00a0<\/span><span data-contrast=\"none\">fuelled<\/span><span data-contrast=\"none\">\u00a0by the self-feeding ecosystem, starting with the HDB flat upgraders whose homes have recently fulfilled the Minimum Occupation Period (MOP).\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Hence, he expects the government to tighten property curbs in the second half of 2021.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">\u201cSo, the government may tighten measures targeted at investors who own multiple properties, such as increasing the\u00a0<\/span><span data-contrast=\"auto\">Additional Buyer\u2019s Stamp Duty<\/span><span data-contrast=\"none\">\u00a0or reverting the\u00a0<\/span><span data-contrast=\"auto\">Seller\u2019s Stamp Duty<\/span><span data-contrast=\"none\">\u00a0holding period to four years.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This\u00a0price hike is the steepest increase since Q2\u00a02018\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":19714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[552,1327,1328,110],"class_list":["post-13742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-foreign-investors","tag-optimistic","tag-private-properties","tag-singapore","news_country-singapore","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Singapore private property prices increase 3.3% in Q1 | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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