Desmond Sim, Head, CBRE Research, Singapore and South East Asia:
The latest URA
figures provide another piece of evidence that Singapore’s residential market
is reaching its trough. The pace of decline for non-landed homes has slowed,
having registered zero per cent in the first three months of 2017. Overall, the
0.5% dip remains marginal; the fall in the index for landed homes in the latest
figures was a function of the price of the projects transacted. Key projects
may skew indices occasionally and with a wide geographic spread, it is more
important to look at the trends over a longer period. The market should prepare
itself for a landing very soon, going by the latest figures. CBRE expects home
prices to come in at between 0 and -2 per cent for the whole of 2017.
Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
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