OCR and RCR prices decelerate

More cautious buyer sentiments are seen particularly in the mass segment.

OCBC Investment Research noted:

We continue to see the OCR leading price appreciation across all three regions. A more muted 1.6% increase in 2Q11, however, represents a deceleration of the OCR uptrend seen over the last two quarters (2.1% in 4Q10 and 3.1% in 1Q11). We also see RCR price appreciation decelerating to 1.2% in 2Q11 from around 2.0% in the last two quarters. In our view, this is due to more cautious buyer sentiments, particularly in the mass segment. Buyers could be waiting for more clarity of the impacts from an increased BTO supply to 26K units in FY11 and a possible hike in BTO income limit from S$8k to S$10K. We also note that Minister for National Development Khaw Boon Wan's blog "Housing Matters" has gained significant traction with the market. A recent blog post titled "My worries" where the Minister warns that "unsustainable, rapid price increase brings with it enormous risks" have likely chilled sentiments further.

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