14 Sep '11, 1am

New immigrant arrivals will continue to support demand & prevent property prices from falling amid housing glut: Expert

New immigrant arrivals will continue to support demand & prevent property prices from falling amid housing glut: Expert

Dr Chua says strong demand will allow the sector to weather the impact of the estimated 100,000 public and private homes to be completed in 2014 and 2015. -- ST PHOTO: NEO XIAOBIN By Esther Teo, Property Reporter A property expert believes new immigrant arrivals will continue to support demand and prevent prices from falling in the wake of an impending flood of new flats onto the market. Dr Chua Yang Liang, head of research at Jones Lang LaSalle (JLL) South-east Asia, noted that past trends show that Singapore prices are driven largely by sentiment and not stock levels alone. He said the strong demand will allow the sector to weather the impact of the estimated 100,000 public and private homes to be completed in 2014 and 2015. Related Links SUPPLY OF COMPLETED HOMES The flow of new homes will have some effect on prices and might slow the gain in the Urban Redevelopment Aut...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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