Residential Property Outlook for 2018
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Residential outlook for 2018
Most property consultants are expecting new-home sales to ring in at roughly 11,000 units for 2017. This is a 38% increase from the 7,972 units registered in 2016, says Tricia Song, Colliers International head of research for Singapore.
This year, 18 private residential projects with an estimated 6,000 units were launched for sale, says Ong Teck Hui, JLL national director of research. He foresees about 20 projects being launched next year, yielding 8,000 to 9,000 units. Ong’s forecast for new home sales in 2018 is 11,000 to 12,000 units.
Resales to exceed new-home sales
Both Colliers and JLL have similar projections for resale volume: 13,000 to 13,500 units in 2017, a jump of 55% to 71% compared with the range of 7,901 to 8,406 units in 2016. Resales include developers’ sale of balance units in completed projects such as Amber Skye, Gramercy Park, Leedon Residence and Marine Blue.
Prices projected to increase 8% to 10%
Sim forecasts an 8% to 10% rise next year on a psf basis. He sees higher land prices starting to come into play next year as developers try to keep the majority of units in their new projects at the sweet spot, which means smaller units and higher price psf.
This article appeared in EdgeProp Pullout, Issue 811 (Dec 25, 2017).
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Residential outlook for 2018
Most property consultants are expecting new-home sales to ring in at roughly 11,000 units for 2017. This is a 38% increase from the 7,972 units registered in 2016, says Tricia Song, Colliers International head of research for Singapore.
This year, 18 private residential projects with an estimated 6,000 units were launched for sale, says Ong Teck Hui, JLL national director of research. He foresees about 20 projects being launched next year, yielding 8,000 to 9,000 units. Ong’s forecast for new home sales in 2018 is 11,000 to 12,000 units.
Singapore’s Property Market: Is 2018 The Right Time To Start Investing In Private Properties Again?
Last week, URA reported that the private residential property index for 3Q2017 have increased by 0.5 per cent. This is the first time an increase has been seen, after 15 straight quarters, or close to four years, of decline.
Having endured a lacklustre market for four years, there is finally good news for property experts and real estate developers to get excited about. But should you, as a retail investor, be looking to jump back in to the market now that sentiments are slowly starting to pick up?
Of course, this is the million-dollar question on everyone’s mind. Should we buy a private property now in the hopes that we can strike it rich when the market takes off, or do we risk missing out on the cycle?
Read more,,,
3 experts’ views on Singapore’s residential outlook in 2018
What does the year 2018 have in store for Singapore’s residential property market?
Everyone knows that economists make for poorer forecasters than the weathermen, but economists continue to hold their jobs, the general public continues to want to hear the forecasters divine the future, and the whole prediction cycle continues to spin along.
There’s no avoiding forecasts for the future and with real estate being such a key part of the lives of Singaporeans, this is what the fortune tellers consultants have to say for the residential market in 2018.
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Morgan Stanley: Home prices to rise by 8% in 2018
Morgan Stanley has released the most bullish forecast for the Singapore housing market, expecting private home prices to increase by two percent this year, before rising again by another eight percent next year, reported the Business Times.
This compares with DBS’s forecast of a two percent fall in 2017 and three percent increase in 2018 and another three percent in 2019. OCBC Investment Research, on the other hand, only expects a bottoming out of prices in 2018, with prices falling five percent this year.
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Singapore private property prices to rise 10% by end-2018: Report
Singapore property prices are set to jump 10 per cent by the end of next year, according to United States banking giant Morgan Stanley.
The bank’s in-house experts expect private home prices to start rising next month – instead of early next year as it stated in a previous forecast. The forecast does not relate to Housing Board flats.
The significant upswing in prices would reverse a four-year downcycle after a range of cooling measures was introduced to slow the market.
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4 things to note for Property Outlook 2017-2018
Property Outlook 2017 is out, and for your convenience, we’ve summarised the interesting bits here. This might be a challenging year for landlords (and by default property agents); we all know there’s some correlation between the overall economy and the property market, and right now they’re both in a slump. But forewarned is forearmed and all, so go into the year with your eyes open:
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Home prices could rise 3-7% in 2018: RHB
The stable job market and strong optimism are the main drivers of growth.
Singapore should brace itself for a 3-7% rise in home prices in 2018 on the back of continuing economic growth, RHB Research revealed.
According to a year-end report, a 0.7% QoQ rise in the Urban Redevelopment Authority’s (URA) Residential Property Price Index was a good indicator of Singapore property prices bottoming out.
RHB analyst Vijay Natarajan said prices are expected to rise, due to a stable job market, strong buying optimism driven by local buyers, and a surge in liquidity and replacement demand due to rise in en bloc sales.
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