“Winter is Coming”, warns Sotheby’s International Realty in its recent research on the Singapore residential market.
A stronger demand will lend support to home prices in the residential market, leading to a modest upside in prices in H2 2019, said the report.The Singapore residential market will remain resilient, as proven in the past. The various measures put in place by the government are meant to ensure a more stable residential market with sustainable price growth. This market resilience is why high-net-worth investors are still attracted to the Singapore residential market.
Ms Tricia Song, Head of Research for Singapore for Colliers International commenting on the price decline in the residential market for Q1 said, “the property cooling measures of July 2018 – like speed bumps – have been effective in bringing down prices and total transaction volumes.: Story continuesGoing forward, the reducing trend of vacant units is likely to continue as fewer new homes will be completed in 2019 and 2020 , said the report. Adding, vacant units would rise again as projected completions will rise steeply with the bumper of new projects under construction from 2017 onwards.
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