08 Aug '17, 2am

Property prices to increase by 10%

With property sales surging 46 percent year-on-year in 1H 2017, analysts believe the property market is headed for an inflection this year, reported Singapore Business Review citing a DBS Group Research report. In fact, the analysts expect to see a hike in prices this year, while sales volume could hit a five-year peak in the event the sales momentum continues. “In our analysis, we found that 94 percent of home buyers in 1H 2017 are Singaporean households. A wildcard to a further acceleration in price is when the wave of buying from foreigners return, especially for homes in the Core Central region,” noted DBS Group Research analysts led by Derek Tan. SEE ALSO: 90 units at Martin Modern sold amounting to $220m As such, property prices are expected to increase by six to 10 percent in two years. The hike in prices will be buoyed by the market absorption rate, which is curren...

Full article: http://www.propertyguru.com.sg/property-management-news/2...

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