Singapore Home Sales See Minor Recovery After US Rate Cuts

Bloomberg2024-10-15

Developers sold 401 private units in city-state in SeptemberThe number of apartments transacted was highest since JulySingapore new home sales recovered slightly last month on the back of new supply ...

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InvestToRetire
2024-10-15
InvestToRetire
Great. PropNex should do well.

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While both have sold over half of their units being built — that may have reflected their location in a prime district in Singapore.“The sales momentum that started in September will likely gradually gather pace in October before pausing in December due to the year-end holidays,” said Nicholas Mak, the chief research officer at Mogul.sg, a property portal.The country’s market for new private homes is still set for its worst year since the global financial crisis in 2008, with the government among voices warning that domestic mortgage rates will remain elevated for some time.Still, the recovery in September sales has prompted some speculation that a 1.1% decline in home prices estimated for the third quarter — the first drop in five quarters — may be revised to a smaller decrease. 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PropNex should do well.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/360306451501128","repostId":1173547664,"repostType":2,"repost":{"id":"1173547664","kind":"news","pubTimestamp":1728968605,"share":"https://ttm.financial/m/news/1173547664?lang=&edition=fundamental","pubTime":"2024-10-15 13:03","market":"sg","language":"en","title":"Singapore Home Sales See Minor Recovery After US Rate Cuts","url":"https://stock-news.laohu8.com/highlight/detail?id=1173547664","media":"Bloomberg","summary":"Developers sold 401 private units in city-state in SeptemberThe number of apartments transacted was highest since JulySingapore new home sales recovered slightly last month on the back of new supply a","content":"<html><head></head><body><ul style=\"\"><li><p>Developers sold 401 private units in city-state in September</p></li><li><p>The number of apartments transacted was highest since July</p></li></ul><p>Singapore new home sales recovered slightly last month on the back of new supply and a cut in US interest rates.</p><p>Developers sold 401 private units in September, according to figures released Tuesday by the Urban Redevelopment Authority. That’s nearly twice of the amount sold last month, and the highest since July.</p><p>Developers in the city-state released more projects into the market after the US rate cut. Even so, Singapore’s once-booming property market remains in the shadow of numerous housing curbs.</p><p>A pair of projects that helped push up sales last month reflected the mixed state of the market. While both have sold over half of their units being built — that may have reflected their location in a prime district in Singapore.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/cce722c7068976d3f13efdaa4c379447\" tg-width=\"727\" tg-height=\"442\"/></p><p>“The sales momentum that started in September will likely gradually gather pace in October before pausing in December due to the year-end holidays,” said Nicholas Mak, the chief research officer at Mogul.sg, a property portal.</p><p>The country’s market for new private homes is still set for its worst year since the global financial crisis in 2008, with the government among voices warning that domestic mortgage rates will remain elevated for some time.</p><p>Still, the recovery in September sales has prompted some speculation that a 1.1% decline in home prices estimated for the third quarter — the first drop in five quarters — may be revised to a smaller decrease. The URA, which compiles the figure, only counts purchases up to mid-September, and is set to release a final number including all of September’s sales on Oct. 25.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Home Sales See Minor Recovery After US Rate Cuts</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Home Sales See Minor Recovery After US Rate Cuts\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-15 13:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2024-10-15/singapore-home-sales-see-minor-recovery-after-us-rate-cuts?srnd=phx-latest><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Developers sold 401 private units in city-state in SeptemberThe number of apartments transacted was highest since JulySingapore new home sales recovered slightly last month on the back of new supply ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2024-10-15/singapore-home-sales-see-minor-recovery-after-us-rate-cuts?srnd=phx-latest\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.bloomberg.com/news/articles/2024-10-15/singapore-home-sales-see-minor-recovery-after-us-rate-cuts?srnd=phx-latest","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173547664","content_text":"Developers sold 401 private units in city-state in SeptemberThe number of apartments transacted was highest since JulySingapore new home sales recovered slightly last month on the back of new supply and a cut in US interest rates.Developers sold 401 private units in September, according to figures released Tuesday by the Urban Redevelopment Authority. That’s nearly twice of the amount sold last month, and the highest since July.Developers in the city-state released more projects into the market after the US rate cut. Even so, Singapore’s once-booming property market remains in the shadow of numerous housing curbs.A pair of projects that helped push up sales last month reflected the mixed state of the market. While both have sold over half of their units being built — that may have reflected their location in a prime district in Singapore.“The sales momentum that started in September will likely gradually gather pace in October before pausing in December due to the year-end holidays,” said Nicholas Mak, the chief research officer at Mogul.sg, a property portal.The country’s market for new private homes is still set for its worst year since the global financial crisis in 2008, with the government among voices warning that domestic mortgage rates will remain elevated for some time.Still, the recovery in September sales has prompted some speculation that a 1.1% decline in home prices estimated for the third quarter — the first drop in five quarters — may be revised to a smaller decrease. 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