With the ongoing interest rate rise, macroeconomic uncertainties, and market supply dynamics, residential property prices experience continuous fluctuation, with minimal quarterly increases and declines.
However, CBRE Research expects grade A rents to eventually grow by 1.5%-2.0% for 2023, outpacing GDP growth but slower than the 8.3% rental growth in 2022. SRI noted that a steady influx of new launches is expected to come into the market which will gradually gain momentum particularly in strategically located projects situated in sought-after locations.
“Property prices are likely to stabilise after the high growth over the past two years,” Huttons said.
Source: News Formal (newsformal.com)
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