Experts and analysts are making optimistic predictions as to the state of Singapore’s property market in 2018, despite the fact that most of the government’s cooling measures are still in place.
UOB Kay Lian’s Vikrant Pandey notes that the “nascent recovery” will continue to the “mid-range and high-end segments in the next wave, driven by replacement demand from redevelopment of old housing projects and a pick-up in homebuying interested from foreigners,” Pandey also predicts that home prices will increase by 5% to 10% in 2018 after bottoming out later this year. Earlier this month, Morgan Stanley also made similar predictions, saying that home prices will rise by 2% this year and 10% at the end of next year.
The collective sales market has surpassed the $3 billion mark so far this year and this figure is more than the total transaction value in the past four years. The success of numerous en bloc attempts by homeowners at old estates come with it a high volume of homebuyers seeking new homes and this will further speed up the recovery process of the property market. Pandey says that such buyers will fuel demand for mid- to high-end homes.
Read more on this at the Straits Times website
Alternatively, find out more on the recent properties that have been put up for collective sale: