Tuesday, February 7, 2012

Singapore property developers cautious about market outlook

SINGAPORE : Property developers seem pessimistic about the outlook for Singapore's real estate market in 2012, with some analysts foreseeing a five to ten percent drop in property prices this year.

But market watchers also say the strong interest in recent property launches could defy these forecasts and even lead to more cooling measures.

Celebrations continue but property developers are still in the dark about the outlook for Singapore's property market in 2012.

Mr Wong Heang Fine, President, Real Estate Developer's Association of Singapore, said: "We are cautious. On the market going forward, it all depends on how the global economy goes in the next eleven months. So it's really anybody's guess."

URA data shows the rate of price increase for private residential properties moderating for the ninth consecutive quarter with rentals also tapering off. 




Source : MediaCorp Pte Ltd by Yvonne Chan

Tuesday, January 31, 2012

Rate of increase in private home prices continues to moderate in Q4 2011

SINGAPORE: The rate of increase in private residential property prices continued to moderate for the 9th consecutive quarter since Q4 2009.

Flash estimates by the Urban Redevelopment Authority showed that the private homes index rose to 206.2 points in Q4 2011, up 0.2 per cent, compared to the 1.3 per cent increase in Q3.

Prices of non-landed private residential properties increased by 0.5 per cent in the Core Central region and by 0.6 per cent in the Outside Central region, in the quarter.

There was no change in prices in the Rest of the Central region.

But compared to Q3 figures, prices of non-landed private residential properties went up by 0.7 per cent in the Core Central region, 1.2 per cent in the Rest of the Central region and 2.1 per cent in the Outside Central region.




Source : MediaCorp Pte Ltd