HDB RESALE FLAT PRICES TO STAY STABLE, SAY ANALYSTS
HDB resale prices will likely remain stable next year, as COVs (Cash-Over-Valuation) soften marginally.
This will result in an overall price correction of between one and five percent, while sales volumes are expected to decline slightly as buyers assess their options outside the resale market.
A potential threat to the HDB resale market will come from the new supply of executive condos and BTOs.
According to Mohamed Ismail, Chief Executive at PropNex Realty, prices of HDB resale homes could correct by one to two percent.
“Overall, we believe that HDB resale prices will remain, with marginal softening of the COVs only in the second half of 2012,” he added.
But Lee Sze Teck, Senior Manager of Research and Consultancy at Dennis Wee Group (DWG), believes that HDB resale flat prices could post a five percent correction.
On the other hand, Eugene Lim, Key Executive Officer at ERA Realty Network, noted that HDB resale prices could rise by five to six percent for 1H2012.
“So far, much has been said that
's economic growth may slow down or even run into a recession should the global situation deteriorate. Whilst the threat remains, things have not yet turned bad,” he said. Singapore
Info courtesy - PropertyGuru.com.sg