01 Aug '11, 11am

S'pore property prices may continue climbing: survey

S'pore property prices may continue climbing: survey

SINGAPORE: Singapore property prices may continue climbing this year, contrary to a widely expected downturn, according to results of a survey by online portal PropertyGuru.com.sg. Most respondents said property in Singapore will remain expensive, and they are setting their sights on alternatives like commercial property and real estate investments overseas, the survey showed. Rising property prices are pushing would-be home buyers to hold off their plans as they do not believe that the much-anticipated downturn will materialise this year. Steve Melhuish, CEO and co-founder of PropertyGuru.com.sg, said the survey itself would not have an impact on the market. However, it is like a temperature check. He said: "(What it says is that) they expect the transactions and prices to carry on going up and so the expectation is that they are going to have to pay a higher price in the...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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