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The private residential market in Singapore appears to be stabilising in line with economic fundamentals, said Chia Ngiang Hong, president of the Real Estate Developers’ Association of Singapore (Redas).
"In the beginning of the year, most analysts expect new home sales for the year 2020 to remain resilient and roughly match 2019’s level. Prices of new homes are not expected to change much," Mr Chia said at the Redas Spring Festival lunch on Friday at Orchard Hotel.
However, new home sales performance has been uneven across different projects and segments, and property developers' concerns over the upcoming supply and build-up of unsold inventory remain, he added.
Redas is "reassured" that the Singapore government will act where and when needed to maintain a stable and sustainable property market, Mr Chia said.
Real estate related news stories from Singapore
- JTC awards tender for Tuas industrial site to sole bidder
- OUE C-Reit posts 12% increase in Q4 DPU, NPI soars post-merger
- a-iTrust's Q3 net lifted by higher occupancies, positive rent reversions
- Suntec Reit to issue S$200m 2.95% notes
- Chart of the Day: Multiple-user factory space prices jump 1.2% QoQ
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- SIA and Japanese airline ANA ink JV deal
- Total employment grew to 55,200 in 2019
- More Singapore residents working as freelancers
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Agent.sg's Daily Property News Selection brings you the most important property market news in and around Singapore. We list the best articles on real estate development, property investment and on the property listing market on a daily basis - whoever stays out, misses out.
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