Cheyenne Hollis | Nov 02, 2012 | Comments 1
Over half of developers surveyed expect home prices in Singapore to remain steady while nearly a quarter plan to launch more units.
Sentiment among property developers in Singapore saw an improvement in the third quarter with a higher proportion planning to launch substantially more homes for sale in the next six months, according to the results of the Real Estate Sentiment Index (RESI) survey.
The survey, carried out by the Real Estate Developers Association of Singapore (REDAS) and the National University of Singapore (NUS), showed that the Composite Sentiment Index, the indicator for the overall real estate market, stood at 4.9 in the third quarter compared to 4.7 in the second, Today Online reported.
The improved sentiment led to 23 percent of developers saying they plan to launch substantially more units over the next six months, up from 13 percent in the last quarter. Meanwhile, a larger proportion of 48 percent expect moderately more units to be launched in the near term, compared to 46 percent in Q2, according to Channel News Asia.
The survey showed developers continued to be most confident about the hotel/serviced apartment sector. They turned positive on the prime residential sector and remained optimistic about suburban housing, although less so.
Meanwhile, 58 percent of developers expected home prices to stay steady, but this was down from 65 percent previously. Nearly 32 percent of developers showed increased interest in Government Land Sales, up from three percent previously, while 22 percent expect a greater interest in en bloc sales over the next six months, up from nine percent previously.
Filed Under: Country News • News • Singapore
Article source: http://www.thethailandlinks.com/2012/11/04/sentiment-among-property-developers-improving-in-singapore/
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