A further slide in residential home prices in 2016 may finally persuade the Singapore government to take its foot off the brakes in Asia’s worst-performing property market.
Property brokers including Knight Frank LLP and Jones Lang LaSalle Inc. said the government may be swayed to lift some of the curbs that have depressed local home sales and damped values. Home prices could drop as much as 8 percent this year, extending a similar decline since their peak in 2013, if an economic slowdown in the island-state becomes severe, according to Ong Teck Hui, National Director of Research & Consultancy at Jones Lang LaSalle in Singapore.
Tagged in:
Asia worst performing property market
Asset price inflation
Cap on debt repayment costs
Compound inflation rate
CPI Inflation
Development in global and domestic inflation environment
Gross Domestic Product GDP
Reversal on curbs on property measures
Rising mortgage rates
Singapore drop in property prices
Singapore largest export destination
Slow macroeconomic growth
Slowdown in China economic growth
Stamp duties