26 Feb '12, 9pm

Private property prices could fall by 12% over the next 3 months, according to analysts

SINGAPORE - Private residential property prices are expected to fall as much as 12 per cent over the next three months. This is according to analysts who also expect demand for private homes to decline as well over the next few months. Analysts say the recent move by the Government to introduce additional buyer's stamp duty (ABSD) as a further cooling measure may dampen demand from potential upgraders who make up the bulk of private property buyers here The decline in sales and prices are also expected to affect mass market private homes more this time round as the luxury segment has already been hit when the latest property cooling measures were introduced late last year. ECG Property managing director Shawn Tan told MediaCorp that "the additional stamp duties hinder upgraders which form up the majority number of the mass market purchasers. We should be seeing a bit of co...

Full article: http://www.todayonline.com/Business/EDC120227-0000057/Pri...

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