14 Dec '11, 12pm

Analysts expect property prices to soften in 2012

SINGAPORE : The Singapore private residential property market was hit with two rounds of cooling measures in 2011 - moves widely described by analysts as harsh. Coupled with an expected slowdown in the global economy, home-buying decisions may stall in 2012. And developers may also roll out more incentives to prop up sales. Despite the uncertain economic outlook in 2011, home-buying interest remained healthy judging by the long queues at recent property launches. Analysts expect new private homes sales to hit a total of 15,000 to 16,000 units this year, compared to nearly 16,300 units sold in 2010. Next year, crowds at property launches could get thinner as weak economic sentiment undermines the confidence people have in keeping their jobs. Sales volume for 2012 is likely to dip further to under 14,000 units for the whole year. Dr Chua Yang Liang, Research Head, Jones Lang...

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

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