OPTIMISTIC OUTLOOK FOR PRIVATE RESIDENTIAL MARKET

OPTIMISTIC OUTLOOK FOR PRIVATE RESIDENTIAL MARKET

Jan 27, 2011

The outlook for Singapore’s private residential market is cautiously upbeat this year, as the number of new homes sold will likely taper off from last year’s high to a more sustainable level this year, possibly in the region of 10,000 units, said Colliers International.

Overall private residential home prices will likely increase at a more moderate rate of five to eight percent this year. Mass market home prices will likely remain stable or ease up by nearly two percent, while mid- and high-end property prices could possibly see an increase of up to eight percent.

On the leasing front, the expected increase in expatriate arrivals will support demand and rents will likely jump by five to eight percent this year.

Info courtesy – Property guru