This is an 18.5% increase on the private housing stock.
According to Colliers International, a very sizeable residential supply will come on-stream in the next few years.
More than 50,000 new homes are scheduled to complete between 2013 and 2015, representing an 18.5% increase on the private housing stock of 273,050 (as of 2Q 2012) over the next three years. Buyer resistance to prices that are already at record levels is increasing, and the government is likely to implement more measures if the market shows any untoward reaction to QE3.
These factors should maintain some degree of stability and sustainability in Singapore’s residential market over the next 12 months. The impact of the QE3 on the Singapore residential market is hence expected to be short-term and will probably peter out before the end of 2012. Thus, residential prices are expected to edge up by only 2%-3% in the next 12 months.
Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)
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