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Demand and Supply-
Elasticity
Market structure -Oligpoly

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Is Singapore’s property market headed for a quick upswing?

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After a long, plodding downtrend, Singapore's housing market may be gathering forces for a rebound.

Sigrid Zialcita, managing director for Asia Pacific research at Cushman & Wakefield, told CNBC's "The Rundown" last week that she expected a turning point in prices "very soon."

She pointed to the government's recent move to ease some of its curbs on the sector as the reason for the market's changing fortunes.

"That actually boosted sentiment in the market. We've seen an increase in foot traffic and it's incentivizing a lot of buyers," she said.

Others also noted that the government's decision to loosen the reins may be spurring more property activity.

Hari Krishnan, CEO of website PropertyGuru, pointed to more optimism, with the number of property listings in the first quarter rising 2.0 percent on-year and 2.4 percent in March.
"These increases could be indicative of an uplift in seller sentiment," he said via email this week.

That hasn't been reflected in prices yet. In the first quarter, overall private home prices fell 0.5 percent on-quarter, the 14th straight quarter of declines. This time around, however, the bulk of the decline was in relatively small landed property segment, while non-landed prices were steady.

The city-state's housing prices surged more than 60 percent from 2009 through 2013, propelled by rock-bottom global interest rates and quantitative easing in developed economies, even as the government enacted a series of cooling measures from 2011 to prevent a bubble from forming.

The measures, including an Additional Buyer's Stamp Duty which could add as much as an additional 15 percent to the price, appeared to have eventually met with some success, with the property price index falling around 11 percent from the peak in the third quarter of 2013 through the end of 2016, according to data from Deutsche Bank in January.

Now, the government may have a more sanguine view, taking moves in early March to scale back some of the curbs, including lowering the seller's stamp duty and shortening the minimum holding period to avoid it.

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Is Singapore's property market headed for a quick upswing?

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After a long, plodding downtrend, Singapore's housing market may be gathering forces for a rebound. Sigrid Zialcita, managing director for Asia Pacific research at Cushman & Wakefield, told CNBC's "The Rundown" last week that she expected a turning point in prices "very soon."

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Natalyn

Singapore property comeback fueled by developers hungry for land

The article asserts that the Singapore property market is “making a comeback”, with prices rising, and developers being “hungry for land”. This phenomenon can be explained mainly by government policies and the expectations of producers.

Due to the easing of property restrictions (i.e. change in government regulations) early this year, through the reduction of seller's stamp duty (SSD) and the total debt servicing ratio framework (TDSR), it has allowed buyers to seek higher level of loans to purchase property, and hence easier for them to do so, driving demand for property up. This would potentially lead to an increase in prices.

Developers (i.e. producers) are expecting this trend, and therefore are buying up more land to be able to cater to the increased demand in the market. As they expect demand, and hence prices to increase in the future, it would make sense to reduce supply first, to be able to sell more later and thus maximise profit, explaining the phenomenon of them “refraining from launching projects in the final few months of the previous year”, and ploughing back into the market when the prices have risen. This will shift the supply curve left in the short run, and right in the long-run (i.e. future). Prices will rise initially due to the shift, but eventually, coupled with the increase in demand, both the demand and supply curve will shift rightward, increasing the quantity of house bought and sold, and prices will either rise, fall or remain stable, depending on the relative extent of the increase in the demand and supply.

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COE premiums fall across all categories in latest bidding exercise

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COE premiums fall across all categories in latest bidding exercise

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SINGAPORE Certificate of Entitlement COE premiums fell across all categories in the latest bidding exercise on Wednesday June 21 as prices of COEs for cars continue to slide and those for commercial vehicles registered their first drop since April.nbspPremiums for small car

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Devan
COE premiums fall across all categories in latest bidding exercise

The article states that the Certificate of Entitlement (COE) premiums witnessed a drop across all categories according to the latest bidding exercise on 21 June. Why this is so is because of a declining demand due to a weakening market. There is going to be an adoption of Euro 6 emission standards for petrol vehicles, thus sellers are currently clearing the Euro 4 vehicle stock that they have.

Overall, all of the prices of COE for the different vehicles have went down. This implies that the number of buyers will go up as more buyers will purchase COE's or renew their current one, thus the demand for COE will go up, resulting in a rightward shift in the demand curve.

However, this will cause the supply curve to shift to the left as sellers are clearing the current Euro 4 stock that they have and the sellers are also waiting for the new adoption before they continue with the production of cars, thus probably decreasing the production of cars.

Therefore, as of now, i believe that the prices of COE's and cars will decrease, but in the future when the adoption of the new Euro 6 emission standards is released in the market, the prices for both COE and cars will rise.

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Singapore property comeback fueled by developers hungry for land

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SINGAPORE (BLOOMBERG) - Developers' hunger for land is adding to signs that Singapore's housing market is making a comeback after three years of price declines.

As new home sales surge after an easing of property restrictions in mid-March, developers are becoming more aggressive in bidding at land auctions. On average, they have paid a 29 per cent premium, the highest level in at least five years, according to broker Cushman & Wakefield, which makes comparisons with the past prices of similar properties.

"Sentiment has changed," said Mr Christopher Tang, chief executive officer of Singapore at developer Frasers Centrepoint. "The general sense is that the market has bottomed out and like many of the developers in Singapore we are a bit landbank-starved - we are keen to build our land bank."

A land auction last month attracted a record 24 bidders, amid swelling demand from Chinese and Malaysian developers. Home buyers are snapping up units at developments like the Seaside Residences condominium, east of the city. New home sales more than doubled in April from a year earlier, a report on Monday showed (May 15), after a surge in March to the highest level in nearly four years.

While the signs are positive, the scale of any comeback may be limited by government efforts to avoid any renewed overheating of a market that peaked in 2013. While the government tweaked its cooling measures in March, boosting buyer sentiment, it left most of the restrictions in place.

Singapore's efforts contrast with Hong Kong's failure to tame a market where home prices keep hitting records. Singapore's home prices fell 3 per cent last year and have dropped for 14 straight quarters, the longest slide since the data were first published in 1975. The city's next quarterly property-price numbers are due June 15.

"There has been a considerable lift in market sentiment," said Mr Desmond Sim, head of research for Singapore and South East Asia for CBRE Group. "Buyers are more prepared to make a purchase, in view of prices possibly bottoming."

Mr Sim also cited "pent-up demand" from buyers as developers refrained from launching projects in the final few months of 2016. Developers have since plowed back into the market, offering a total of 1,616 units in March, the most since May 2014, according to Cushman & Wakefield.

Among developers, the number of bidders per land tender increased to 13.3 in the first four months of this year from 8.3 in the second half of 2005, according to Cushman & Wakefield. Winning bidders at recent land sales included China Construction (South Pacific) Development Co and Malaysia's SP Setia International Pte.

Correction note: An earlier version of the story stated that Christopher Tang's post is chief executive officer of developer Frasers Centrepoint. This is incorrect. It should be chief executive officer of Singapore at developer Frasers Centrepoint. We are sorry for the error.

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Singapore property comeback fueled by developers hungry for land

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SINGAPORE (BLOOMBERG) - Developers' hunger for land is adding to signs that Singapore's housing market is making a comeback after three years of price declines. As new home sales surge after an easing of property restrictions in mid-March, developers are becoming more aggressive in bidding at land auctions.

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Samantha

Is Singapore’s property market headed for a quick upswing?

The article states that analysts are predicting an increase in property prices in the future due to the government's recent decisions to loosen the restrictions on the property sector. This move by the government has led to a 0.4% increase in property listings on website PropertyGuru in the first quarter of the year.

Prices of private houses shown a fall of 0.5% while "non-landed prices were steady". Analysts say that the government may be "lowering seller stamp duty" and "shortening minimum holding period".

The relaxing of restrictions cause buyers to be more willing and eager to buy houses knowing causing demand for houses to increase. The demand curve will shift to the right as more people are willing and able to purchase houses.

This however will also cause the supply curve to shift to the right as sellers are expecting more buyers in the market, thus are more willing and able to sell houses at a higher price too.

Thus, in the future, prices of houses will increase and I believe that the whole cycle will repeat again.