23 Nov '12, 10am

Private home sales predicted to drop in 2013

The number of private home sales in Singapore could drop by more than 20 percent in 2013 after “spectacular” increases this year. David Neubronner, Head of Residential Project Sales for Jones Lang LaSalle (JLL), issued the warning this week, suggesting that the number of sales this year, which is expected to reach 22,000 units, will correct to “more healthy levels of about 16,000 units” in a worst-case scenario. In an exclusive interview with The PropertyGuru, he said: “Put in perspective the jump this year, from 15,800 in 2011 to probably 22,000 by the end 2012, has been spectacular. We believe this is not sustainable moving forward and should correct next year.” “In the worst scenario, we estimate the market to correct to the healthy levels of about 16,000 units which were achieved in 2010 and 2011. This is taking into account the anticipated economic slowdown in 2013, c...

Full article: http://lushhomemedia.com/2012/11/23/private-home-sales-pr...

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