Singapore property prices poised to fall

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singapore skylineSingapore-based online property portal PropertyGuru said in its recently launched PropertyGuru Market Outlook 2014 eBook that price drops of 6-8 per cent in private property and 8-11 per cent in public housing resale prices are likely in the city state in 2014.

The eBook incorporates the company’s forecast on what to expect in the property market. In a nutshell, PropertyGuru expects 2014 to be quieter as compared to 2013 – with public housing resale and condo markets experiencing further declines in transaction volumes in the first half of 2014 before reaching a plateau.

In terms of overall property investment, property firm Colliers International said that while developer interests towards state lands are expected to stay healthy, public land sales in 2014 are likely to fall below the $9.70 billion worth of state land sales concluded in 2013. Singapore’s investment sales activity in 2014 is likely to shrink from 2013’s level and is forecast to range between $25 and $30 billion.

The volatile property market in Singapore is seen as a result of “cooling” measures introduced by the government in 2013. The city state, along with several other Asian countries, has been concerned about how the effect of low global interest rates and high levels of liquidity have impacted its property market, which has seen prices rise over 60 per cent since 2009. Thus, authorities enacted measures to prevent the formation of a bubble.One of its most recent measures introduced rules to ensure that a buyer’s monthly payments do not exceed 60 per cent of their income, enforced in June 2013, a move designed to ensure buyers are not caught out by a spike in interest rates.

Private home sales in Singapore fell more than 80 per cent year-on-year in December as measures began to take effect.

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Reading Time: 1 minute

Singapore-based online property portal PropertyGuru said in its recently launched PropertyGuru Market Outlook 2014 eBook that price drops of 6-8 per cent in private property and 8-11 per cent in public housing resale prices are likely in the city state in 2014.

Reading Time: 1 minute

singapore skylineSingapore-based online property portal PropertyGuru said in its recently launched PropertyGuru Market Outlook 2014 eBook that price drops of 6-8 per cent in private property and 8-11 per cent in public housing resale prices are likely in the city state in 2014.

The eBook incorporates the company’s forecast on what to expect in the property market. In a nutshell, PropertyGuru expects 2014 to be quieter as compared to 2013 – with public housing resale and condo markets experiencing further declines in transaction volumes in the first half of 2014 before reaching a plateau.

In terms of overall property investment, property firm Colliers International said that while developer interests towards state lands are expected to stay healthy, public land sales in 2014 are likely to fall below the $9.70 billion worth of state land sales concluded in 2013. Singapore’s investment sales activity in 2014 is likely to shrink from 2013’s level and is forecast to range between $25 and $30 billion.

The volatile property market in Singapore is seen as a result of “cooling” measures introduced by the government in 2013. The city state, along with several other Asian countries, has been concerned about how the effect of low global interest rates and high levels of liquidity have impacted its property market, which has seen prices rise over 60 per cent since 2009. Thus, authorities enacted measures to prevent the formation of a bubble.One of its most recent measures introduced rules to ensure that a buyer’s monthly payments do not exceed 60 per cent of their income, enforced in June 2013, a move designed to ensure buyers are not caught out by a spike in interest rates.

Private home sales in Singapore fell more than 80 per cent year-on-year in December as measures began to take effect.

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