Singapore downturn over, say analystsOverseas Education | Pooja Thakur 11 Jan 2018
credit suisse and Morgan Stanley are calling the end of Singapore's property downturn, after a second consecutive quarterly increase in private property prices.
Home prices may rise as much as 10 percent this year, according to analysts at Credit Suisse, while Morgan Stanley and OCBCInvestment Research expect as much as an 8 percent increase, according to reports from the brokerage firms.
Private property prices rose for a second straight quarter in the period ended December 31, reinforcing signs that the property market is emerging from a four-year slump. For 2017, prices rose 1 percent compared with a 3.1 percent decline in 2016,data from the Urban Redevelopment Authority showed.
Here's what the analysts said about their outlook for Singapore property:
Collective sales, or "en-bloc" deals, valued at S$8.3 billion (HK$48.62 billion) last year should continue to enhance the property market in 2018.
Homes sales may increase 40 percent in 2018.
Housing recovery will extend through 2019; potential government cooling measures pose a risk but such moves may be premature as the market is just two quarters into a recovery.
The surge in home completions from 2021 could begin to dampen sentiment but prices could double by 2030.
New home sales estimated at 12,000 to 15,000 units in 2018; rental prices to climb between 5 and 10 percent this year.