CBRE Comments: URA releases flash estimate of 1st Quarter 2017 private residential property price index

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.





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