30 Jan '14, 8am

Expert predicts 10% price decline

One industry expert is predicting a 10 percent across-the-board decline for residential property prices in Singapore this year. Carmen Lee, Head of Research at OCBC Investment Research, said the mass market segment will likely be hardest hit, with prices dropping by up to 15 percent. She said: “We see a bit more vulnerability from the mass market segment this year, partly because we believe that the high-end has already corrected more in 2013, hence it could see a slower rate of decline this year.” Singapore’s property market is faced with a triple whammy of sizeable new supply coming onstream, property cooling measures that continue to bite and looming higher interest rates after the United States Federal Reserve started its tapering exercise. The research house said it believes that around 50,000 (2014), 49,700 (2015) and 73,600 (2016) houses, including executive condomi...

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

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