SINGAPORE — Residential property prices could begin bottoming out over the next few quarters, prompting a “moderate” recovery from 2018, but there would not be any easing of cooling measures until next year at the earliest, according to industry experts at a property market seminar organised by the Real Estate Developers’ Association (Redas) yesterday.
Depending on economic growth and other macroeconomic factors, said Dr Chua Yang Liang, head of research at South-east Asia at JLL, the potential recovery range is likely to be in line with gross domestic product growth, and driven largely by a pickup in the prime residential market.
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Acceptance of a new normal market
Challenging business environment
Demand and supply manpower
Ease on property measures
GDP growth
GLS instrument in price benchmark
Imposition on multiple rounds of measures
Increase in transaction volumes
Key drivers affecting Singapore
Low supply of Government Land Sales GLS
Macroeconomic factors
Physical market conditions balancing
Private Condominiums
Slow in growth in demand