{"id":2388,"date":"2017-02-24T17:00:05","date_gmt":"2017-02-24T17:00:05","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=2388"},"modified":"2017-02-24T17:00:05","modified_gmt":"2017-02-24T17:00:05","slug":"singapore-set-remain-sluggish","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/24\/singapore-set-remain-sluggish\/","title":{"rendered":"Singapore set to remain sluggish"},"content":{"rendered":"<p><strong>The Singapore property market, which has been struggling for a few years, doesn\u2019t seem to be out of the woods yet.<\/strong><\/p>\n<p>According to Kwek Leng Beng, chairman of City Developments, the worst isn\u2019t over: <\/p>\n<blockquote><p>\u201cI do not believe the worst is over \u2013 although I do think the worst has slowed down.\u201d<\/p><\/blockquote>\n<p>He continued on to say that <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/01\/23\/prices-set-rise-singapore\/\" target>residential prices might take up to nine months<\/a> before they show any signs of recovery. However, he does believe that luxury homes are still offering good value for money because prices have fallen by about 35% since 2013.<\/p>\n<blockquote class=\"wp-embedded-content\" data-secret=\"lRG6cvOyU3\"><p><a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/22\/south-korea-offering-promising-returns\/\">South Korea offering promising returns<\/a><\/p><\/blockquote>\n<p><iframe class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;South Korea offering promising returns&#8221; &#8212; BuyAssociation Group\" src=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/22\/south-korea-offering-promising-returns\/embed\/#?secret=hvMq4IH0Rc#?secret=lRG6cvOyU3\" data-secret=\"lRG6cvOyU3\" width=\"600\" height=\"338\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>\u201cA lot depends on the oversupply and the penalties we have to pay if we don\u2019t sell in a certain time,\u201d Kwek Leng Beng said. \u201cIn light of the lower interest environment the developer will try to hold on for as long as possible, after a certain point when he has no choice he will have to cut the price.\u201d<\/p>\n<p>Property prices in Singapore fell by 3% in 2016, as the government continued its cooling measures. Prices dipped for a 13th straight quarter in the three months that ended in December 2016, the longest streak since data was first published in 1975.<\/p>\n<p>Despite this, the Singapore government has indicated that it is reluctant to ease property controls, including capping debt repayments at 60% of a borrower\u2019s income and <a href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2016\/11\/22\/brits-housing-theresa-may-bye-bye-stamp-duty-infographic\/\" target>higher stamp duties<\/a>, as it wants to avoid the market overheating again.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Singapore property market, which has been struggling for a few years, doesn\u2019t seem to be out of the woods yet. According to Kwek Leng Beng, chairman of City Developments, the worst isn\u2019t over: \u201cI do not believe the worst is over \u2013 although I do think the worst has slowed down.\u201d He continued on<a class=\"excerpt-read-more\" href=\"https:\/\/www.buyassociationgroup.com\/en-gb\/2017\/02\/24\/singapore-set-remain-sluggish\/\" title=\"ReadSingapore set to remain sluggish\">&#8230; Read more &raquo;<\/a><\/p>\n","protected":false},"author":1069,"featured_media":4492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[233,214,215],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2388"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/users\/1069"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/comments?post=2388"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/posts\/2388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media\/4492"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/media?parent=2388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/categories?post=2388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-gb\/wp-json\/wp\/v2\/tags?post=2388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}