14 Apr '11, 10pm

Residential price recovery has overstayed its welcome

The Singapore residential property market has had a very strong recovery since mid-2009 and prices are hitting record highs. However, the recovery has also prompted the Government to announce four rounds of residential property market cooling measures since September 2009. The harshest so far has been the latest round introduced in January, consisting of further hikes in the seller's stamp duty and reductions in mortgage loan-to-value ratios. The cooling measures have caused cracks in the market. Private residential sales volume and price gains have recently slowed and we see potential downside for prices in Singapore. Mass market private properties, which have led the current recovery, could fall 10 to 15 per cent this year, while prime properties could lose zero to 5 per cent. Our cautious outlook is predicated not only on the harsh cooling measures but also on a number ...

Full article: http://www.todayonline.com/Commentary/EDC110415-0000351/R...

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