20 Sep '11, 3am

‘Immigration will prevent fall in housing prices’ #Singapore

‘Immigration will prevent fall in housing prices’ #Singapore

The influx of people into Singapore will ensure demand for new homes, according to a property expert. (iProperty … According to one property expert, the throngs of new immigrants to Singapore will continue to spur demand, preventing prices from falling despite the wave of new flats entering the market. Head of research at Jones Lang LaSalle (JLL) Southeast Asia, Chua Yang Liang, explained that history has shown Singapore's housing prices are driven mostly by sentiment, not just stock levels. Strong demand will allow the sector to thrive amid an estimated influx of 100,000 homes — both public and private — that will be completed come 2014 and 2015, he said. These new homes will impact prices and might slow the gain in the Urban Redevelopment Authority's (URA) property price index to a rough average of 1.8 per cent to 7.5 per cent a year from now until 2015 — depending on im...

Full article: http://sg.news.yahoo.com/blogs/property-blog/immigration-...

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