Prices of residential properties in Singapore may decline by up to six percent when interest rates start rising, said a senior executive from Cheung Kong (Holdings) in a report by Reuters.

However, the red-hot housing market in Singapore, as well as in China and Hong Kong, are unlikely to see a collapse.

Home prices in these three countries have climbed this year, due to low interest rates and strong economic growth. But this has resulted in growing concern over a property bubble and forced the governments to implement cooling measures to curb prices.

“In Singapore, because the government has always been paying attention to the housing market, I would say the fluctuations would be much smaller, in the single-digit range," said Justin Chiu, Executive Director at Cheung Kong. “Even if it were to come down, it will probably be five, six percent maximum.”

Chiu saw slowing activity in the overall housing market, with fewer transactions taking place in Singapore.

Sales of new private homes in the country dropped 13 percent in May from the previous month, said the Urban Redevelopment Authority (URA), signalling greater caution among buyers, amid efforts by the government to curb the housing market.

Although property market bubbles in Singapore, China and Hong Kong have raised concerns of a collapse, Chiu does not see this happening, as non-speculative demand for houses has remained firm, buoyed by robust economic growth.

However, the residential market in Hong Kong is more speculative than Singapore’s, as it has more international buyers. Hence, Chiu said it could expect bigger fluctuations than Singapore.

“Hong Kong, Singapore (and) China won't see a collapse but there'll be some minor fluctuations, adjustments, correction as a result of government actions and buyer sentiment, but this won't lead to a major collapse.”

Hong Kong, which is home to the most expensive residential and office properties in the world, has experienced home price increases of 12.5 percent this year. Like its Asian neighbours, it has imposed policies to cool down speculative demand, such as lowering loan-to-value ratios and slapping stamp duties on short-term transactions.

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長江實業執行董事趙國雄：新加坡房市不會崩盤

（2011-06-23）

　　新加坡的房地產市場不會出現崩盤，但升息可能會造成房地產價格出現單位數的調整。

　　長江實業執行董事趙國雄昨天談到本地私宅市場時，發表了上述看法。雖然他沒有預測房市出現調整的具體時間表，不過他指出，現在的經濟表現很好，加息將是導致房市調整的一個因素。

　　經濟的蓬勃和低利率的借貸環境，讓本區域的房地產價格持續走高，各經濟體也不斷出手為房地產降溫。

　　趙國雄表示，相信沒有一個經濟體希望看到房地產市場崩盤，而是希望能夠讓市場保持在穩定狀態。政府推出的政策，市場情緒將為房地帶來一定的波動和調整，但不至於讓市場垮掉。

房價可能出現

5％至6％調整

　　“新加坡政府一直密切注意房地產市場的走向，相信波動幅度會比較小，可能會出現單位數的調整幅度，估計會在5％，最高達到6％。”

　　他也表示，整體上房地產市場有所放緩，本地的交易量也出現下滑。

　　上個星期公布的5月份私宅銷售數據顯示，私宅市場溫度有所下降。由發展商直接出售的新私宅單位比4月份少接近13％。

    趙國雄指出，與新加坡相比，香港的房市中有更多的國際買家，因此炒氣更重，調整幅度也會比新加坡來得大。

　　他昨天出席長江實業位於湯申路上段的 Thomson Grand的開幕儀式。這個位於新加坡島嶼俱樂部附近的99年地契私宅項目，包括九座高層建築中的339個公寓單位和22個分層地契共管排屋 （strata terrace units）。公寓單位包括兩房、三房、四房式，還有花園單位和頂層豪宅。

　　長江實業爭取在7月推出公寓第一期項目約50個單位，平均價格將在尺價1400元以上，但之後推出的單位價格尺價可能被調高。

　　長江實業的營業經理何家欣指出，Thomson Grand可以看到網球場、貝雅士蓄水池下段、碧山公園等自然景觀，該項目在設計上也下足功夫，盡量讓所有的單位都能一覽自然美景，並擁有足夠的私人空間。

　　她也提到，不少目前居住在該地段附近的居民對該項目的反應不錯，其他地區的買家和投資者也表達出興趣。

　　至於22間分層地契共管排屋，價格還沒有最後確定，但表達出購買興趣的買家已經供不應求。

　　何家欣表示，很多附近的與有地私宅已經很舊了，住戶希望能提升到寬敞的新屋，因此他們對Thomson Grand分層地契共管排屋都很感興趣。

　　此外，長江實業最近在香港特區政府地皮拍賣中頗有斬獲，據趙國雄透露，今年上半年長江實業在香港銷售了2100個單位。

　　那麽，長江實業在新加坡的發展計劃又是怎樣的呢？

　　趙國雄表示，住宅房地產方麵，長江實業將專注於小眾高檔買家，不打算參與本地大眾化私宅的競爭。在商用房地產方麵，作為一個外國的發展商，長江實業更願意參與大規模的項目發展。