13 Nov '17, 4pm

Signs of residential market in Singapore improving

Signs of residential market in Singapore improving

The residential real estate market in Singapore is improving with home prices rising and sales of new homes increasing, according to a new report. Private home prices rose for the first time in four years with an increase of 0.7% in the third quarter of 2017 and new home sales rose 29.1%, data from the Urban Redevelopment Authority shows. Looking ahead research from real estate firm JLL suggests that prime home prices in Singapore are set to rise 24% over the next four years but homes will still be affordable. Regina Lim, head of capital markets research at JLL Singapore, believes that most developers will price in 10% to 20% rises in home prices over the next 24 to 36 months. ‘In our view this is not excessive. Even if prices rose 24% over the next four years amid 2% annual wage increases, the home price to income ratio of six years will still be moderate compared to many...

Full article: https://www.propertywire.com/news/asia-pacific/signs-resi...

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