Chart of the Day: Residential property prices are a long way away from bottoming out

Prices will fall by another 10%.

It will take another two years before private residential property prices hit bottom, according to a report by BNP Paribas.

Although the prices have already suffered a 5.5% decline from their peak in 2013, BNP Paribas believes that the price index will correct further due to limited demand, excessive supply and weakening regional growth prospects.

“A combination of weakening regional growth prospects, macro-prudential tightening and a sizeable supply-demand imbalance has taken the steam out of Singapore’s property market. In an orderly scenario, we estimate private property prices could fall a further 10% from current levels over the next two years, with direct consequences for consumption growth,” said the report.
 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!