The government suddenly introduced a new round of real estate cooling measures. The intention is very clear. It is to suppress investment demand, including foreign buyers and buying a second three house as locals.According to last year's data, this part of private house transactions account for about 10 % of the total number of private house transactions.Relevant adjustments do not affect the first -time home purchase.
Under the circumstances of slowing economic and poor prospects, the local residential housing market is still hot, and it is necessary to introduce relevant measures in time.As the official said, if it is not suppressed in advance, the continuous surge in house prices will surpass the increase in economic fundamentals and income.This is unsustainable.
At present, the hotness of the real estate market is very unusual.In addition to the economic downturn, there are also high borrowing interest rates, and the supply is rapidly returning to normal levels.These factors should cause prices to ease or decrease.However, the facts are not down.This is unusual.
If you do a more detailed review of the housing market, the main demand is not exactly completely from foreign buyers.According to official data, in the 2011 real estate transaction, foreigners accounted for 20%. After several rounds of cooling measures, this ratio gradually declined, from 2017 to 2019, with an average of about 6%.However, the situation after the crown disease began to change.The first quarter of this year has risen to 7%.Buy buyers' interests have increased significantly.Perhaps it is stimulated by this factor. Some locals also think that investing in real estate is favorable, so they have successively entered the market to buy second or third houses.Obviously, there are also factors that real estate agencies have helped.
Of course, foreign buyers are interested in local real estate. Of course, they also have specific reasons. One of them is because Singapore's management and control of the epidemic is relatively significant, and it also transitions to the stage of coexistence with the virus earlier than many countries; coupled with Singapore's political stabilityThe legal system is strict, and it is attractive to many people with high net worth of foreign countries.Therefore, the number of family wealth management office established in Singapore after the epidemic has increased significantly, and more foreign funds have also flowed in.It is not surprising that some hot money flows into the real estate market.
But the housing market has risen has a bad overflow effect. The most noteworthy is the psychological impact on the local first purchases.Some people are afraid that house prices have risen steadily, so they join the waiting ranks of pre -order groups in advance, and some people can't help but worry about it.The private house market is hot, housing prices continue to rise, and the transfer price and rents that stimulate the housing housing are soaring.According to the latest estimated data released by the Urban Reconstruction Bureau on April 3, the overall private house price has risen for the 12th consecutive quarter. In the first quarter of this year, the overall private house price index rose 3.2%month -on -month, higher than 0.4%of the fourth quarter of last year.
The additional buyer stamp duty (ABSD) that foreign buyers must pay (ABSD) are adjusted from 30 % to 60 %, that is, doubled, which is rare for such adjustments.Taking a private house worth 2 million yuan as an example, this means that ABSD that foreign buyers must pay will increase from 600,000 yuan to 1.2 million yuan.National Development Minister Li Zhisheng said yesterday that the move was to effectively suppress foreign investment needs.Some operators said that when ABSD raised to 30%at the end of 2021, some foreign buyers had been followed. In 2022, the number of foreigners purchased private houses fell by about 16%compared to the previous year.However, the first quarter of this year has rebounded again.New cooling measures should be able to produce expected results.Li Zhisheng believes that the local people are more sensitive to the adjustment of ABSD. Therefore, 3%to 5%adjustment should achieve the control effect.Of course, the actual results of the new measures, and what other effects will have, remain to be observed.
In addition to curbing the desire of investment, new cooling measures also convey some important information, that is, the government preferentially take care of the housing needs of the local people, especially the group of self -occupation of home buying.Although foreign buyers accounted for a small market share, some particularly eye -catching news, if someone bought the entire floor or multiple units in one breath, it would indeed be distorted by the market, which caused a negative social perception. It is necessary to be necessary.Stop in time.This can also prevent the impression of expanding the gap between the rich and the poor due to the overheating housing market, as well as the excessive emotional emotions derived.
