26 Feb '14, 3pm

Home sales, prices to fall in 2014: experts - Property Auctions News, Property Investment

Experts quoted in media reports believe that property prices and transaction volumes will continue their downward trajectory, after Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam said during Friday’s Budget that it was still “too early” to relax the property cooling measure s . The announcement was a letdown for property players who were waiting for a reversal of some policies such as the additional buyer’s stamp duty (ABSD). Mohamed Ismail, Chief Executive at PropNex Realty said, “The non-changing of the policies basically creates a buyer's market for another one year or so... Serious buyers will be able to buy a property at a fair discount.” Expecting “marginal corrections”, Ismail noted that public housing prices will drop five to eight percent this year, while private property prices will slip by around two to three percent. SLP International Researc...

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

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