Experts predict a private housing prices would fall in 2020
The current situation and a slowing economy has started to increase. The Urban Redevelopment Authority in the first quarter, according to quickly estimate its overall private residential price index benchmark than last quarter fell by 1.2 per cent.
The decline was a third consecutive quarter of growth after the ring. Compared with the same period last year, the index rose 2.2 per cent.
Analysts expect private residential prices will continue to decline in the year to the south, up to 8 per cent, however, they did not predict the global financial crisis as the during the fourth quarter fell 24.9 per cent of the dramatic decline.
In the past ten years, successive rounds of property cooling measures to strengthen the system of Prudential, and prevent asset bubbles.
Jones Lang LaSalle research and consulting firm, was a senior director, said: “from late 2010 through the first quarter of 2020, the authority’s private housing price index rose 9.1 per cent, as a result, prices are not beyond fundamentals, thereby reducing the risk of property owners.”
Analysts expect the weakening market sentiment, combined with the current situation meant to ease the further spread of social grooming more stringent measures to limit the apartment developers, as well as restrictions on the sale of private housing developers this year than last year, 9912 houses sold fell by about 20 per cent to 30 per cent.
Chief Executive Officer of Realty Propnex Ismail Gafoor said: “developers continue to launch new projects, but they are expected to adjust prices. In Today’s under normal circumstances, if developers can be sold during the first weekend of more than 300 set 10 per cent of the items at the opening of the conference, he should be very happy, and efforts to maintain the momentum. “In this situation before, norms are in the first weekend will project a 30 per cent or more transfers.
DBS Group Research analyst Derek Tan also want developers to try to continue to launch their projects, because complete on-site sales of all units for a period of five years has been completed. “At the same time, they will continue to lobby the government to relax cooling measures.”
First Pacific Davis, executive director of Singapore’s piece (Alan Cheong) suggested, “if the market tensions, some developers are likely to be its release delayed by one to two quarters, or it could be in line with plans to launch, but it would be phased in to test the waters.”
Analysts at URA city overall private residential price index is forecast to decline in 2020 as a whole are very different.
at Colliers International, at the lower end of the Singapore research leader Song Cuixia (Tricia song) forecast a decline of 1-3 per cent, on the other end of the spectrum, Shi bangwei Richard Ellis (C.b.re) research director for Southeast Asia Desmond (Desmond SIM) and First Pacific Davis (Savills), Zhang, said the index may fall by 5 per cent to 8 per cent.
The government expects this year’s GDP will fall by 1-4 per cent. Sim, said, “looking to the future, we hope that the developer of the current situation in a more flexible pricing expectations, particularly when they have to take into account due to the expansion of social isolation and being forced to limit the booth at the time.”
In the past few months, the prospect of a Singapore real estate market has changed dramatically. Before the outbreak of the current situation of Mr. Tan, DBS Bank, expects this year to the authority of the largest private housing price index rose 2 per cent, after which he predicted would be reduced by up to 3 per cent.
Mr. Cheong of Savills for private housing market depicts two situation. In the first case, because of concern about the current situation here to buy a modest expansion of emotions, “if the popular clear visibility emerged in late 2020 or early next year, a real estate market rebound will soon and will cover the lost land.”
“In the second case, owing to the event’s twists and turns and lead to economic and social behaviour completely collapsed, market sentiment structure might break up. And then, no matter how many developers to cut prices, demand is going to be negative or, in this case, I believe that authorities and banks will take intervention measures to alleviate the situation. Developers will be delayed until the right time to launch. ”
Currently, most market watchers believe that authorities have granted developers have long wanted to reduce the willingness of cooling measures too early.
ERA Realty research and consulting leader Nicholas Michael (Nicholas Mak) has adopted a positive attitude. Loose monetary policy. The current situation could be delayed, but demand for housing will not destroy lives