{"id":8157,"date":"2016-03-11T11:07:50","date_gmt":"2016-03-11T04:07:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-price-drop-of-over-20-unlikely-say-experts\/"},"modified":"2016-03-16T21:08:26","modified_gmt":"2016-03-16T14:08:26","slug":"home-price-drop-of-over-20-unlikely-say-experts","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/home-price-drop-of-over-20-unlikely-say-experts\/","title":{"rendered":"Home price drop of over 20% unlikely, say experts"},"content":{"rendered":"


\nPrivate home prices could fall by up to 15 percent over 2016 and 2017.
\nAnalysts believe that private residential prices will continue to fall this year and into 2017, but the rate of decline is unlikely to exceed 20 percent, reported Singapore Business Review.
\n\u201cWe forecast private residential prices would dip five percent to 15 percent over 2016 to 2017 and that 2016 primary residential sales would remain muted at between 6,000 to 9,000 units,\u201d said Eli Lee, an analyst at OCBC Investment Research.
\nAt the same time, residential rental levels could drop by eight to 15 percent, while the vacancy rate could rise from the current 7.8 percent to around 10 percent by the end of 2017.
\nNevertheless, a price correction of over 20 percent is improbable, given that demand rises as properties become more affordable, preventing prices from falling further, added Lee.
\nEchoing a similar sentiment is Maybank KimEng\u2019s analyst Derrick Heng. He expects private residential prices to hit rock-bottom by the end of next year, decreasing by 13 to 16 percent from their peak.
\nHeng noted that developers appear to be winding down their construction activity to ease the supply glut. Data from the Urban Redevelopment Authority (URA) shows that home builders completed nearly 19,000 units in 2015, down from the projected 21,359 units for the year.
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Home price drop of over 20% unlikely, say experts<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Private home prices could fall by up to 15 percent over 2016 and 2017. Analysts...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-8157","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-27z","jetpack-related-posts":[{"id":125906,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/private-home-prices-hdb-resale-prices-rise-at-slower-pace-in-q1-and-more\/","url_meta":{"origin":8157,"position":0},"title":"Private home prices, HDB resale prices rise at slower pace in Q1 and more","date":"April 25, 2022","format":false,"excerpt":"\r 19th April to 25th April 2022 Despite the property cooling measures, private home prices continued to increase in the first quarter of 2022, albeit at a much slower pace of 0.7%. 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