In the first quarter of this year, the Price Index of the Private House of the Urban Reconstruction Bureau and the resale price index of the HDB House Construction Development Bureau all recorded 12 consecutive quarters of growth, with a new high.This led the government to launch another round of real estate cooling measures late on April 26 to suppress strong needs.
Under the new cooling measures, the additional buyer stamp tax (ABSD) of buying residential real estate is raised by 3 to 30 percentage points, of which the ABSD adjustment of foreign buyers must be paid toSingapore -permanent residents of the two and third sets of real estate are raised to 30%and 35%of the ABSDs that must be paid; Singapore citizens who purchase the second and third sets of real estate will be increased to 20%and 20%and 20%and respectively.30%.
Even so, the estimated data released by the City Bureau the day before yesterday (May 15) showed that in April this year, a total of 887 units were sold, an increase of 80%from the 492 units sold in March; and last yearCompared with the same period, it also increased by 34%.
The sales results in April are due to the two projects launched by developers on the edge of the city.One of the projects was opened after the cooling measures were announced. The sales performance not only was not affected, but sold red fire.Among them, the buyers of four units are from China, and they pay 60%of ABSD.In addition, more than half of the sales unit is less than 70 square meters, reflecting that investment demand is still strong.
This does not mean that a new round of real estate cooling measures are invalid.In fact, if it was not for the government's launch of new measures, the price and sales of real estate may reach a new high.In addition, a new round of cooling measures are implemented on April 27, and the effect has not yet been fully manifested.
However, last weekend, a new real estate project was held, which attracted nearly 6,000 people to see the house.This shows that the demand for real estate is still strong.Analysts estimate that the sales volume of new private homes this year can reach 8,000, more than 7099 units last year.
Regardless of whether to buy a house or invest in self -occupation or investment, the strong demand of real estate reflects that the supply is in short supply. The buyer's expectations for house prices will not rise, which play a role in helping.Since 2009, the government has launched multiple rounds of real estate cooling measures, but the rise in house prices has resumed the rise after a short period of gasping.
Singapore's land is limited, and long -term land prices have risen, which has caused real estate investors to generate expectations of house prices and not rising.In addition, Singapore's political and social stability and the policies of parental business have attracted many high -net -worth those to settle, and they have a lot of investment in real estate investment.The real estate transaction, which is price -priced, encouraged the confidence of real estate investors.
The slow -moving construction project of more than three years of coronary disease has led to a large gap in Singapore's house supply, which has pushed the rent of private houses and houses.Data from the Urban Construction Bureau showed that the rent of non -local private houses increased by 9.9%in 2021 and soared 29.8%in 2022.The real estate market is intertwined. The rent of the house and the resale of the resale of the house and the private house have also moved, which has led to a comprehensive rise in housing prices, and it has also pushed the expectations of buyers' rising house prices.
Under the coaxing of developers and real estate agents, the expectations of house prices will only rise and fall, which prompts buyers to scramble to enter the field and become a prophecy for self -realization.The benchmark price of real estate has risen, inspiring developers to be more aggressive landmarks, and the increase in the cost of developers is reflected in the higher price of real estate.This further strengthened the myth of house prices only rising.
In the long run, real estate prices will show an upward trend with economic development and the increase in Chinese income.However, there is still a cycle in the real estate market.The rising cycle of this round lasted for a long time, the higher the price of house prices, and the impact of the decline cycle may be greater.
After the Asian financial crisis in 1997, the price of private houses in Singapore fell 40%within 18 months; within one year after the global financial crisis in 2008, it fell 25%after a strong rebound.At present, the shadows of high inflation, high interest rates and economic recession are shrouded in the world, and the risk of adjustment in the real estate market is increasing.
The government's real estate cooling measures this round of real estate adjustments have regulated investment demand in macro policies, and the Chinese people who buy their first house self -living are not affected.Even so, in a high interest rate environment, the trend of house prices can only rise sharply, and buyers should do their best to avoid excessive borrowing.In the decline cycle, it is not so easy to get rid of real estate cashing.For those who do not hold the ability, they may be forced to cut prices for sale, or to face the doom in the face of the house for mandatory auction.
