Monday, May 18, 2009

Analysts Say S'pore Private Property Market Could Pick Up This Year

Source : Channel NewsAsia, 18 May 2009

Brokerage DBS Vickers said the Singapore private property market could pick up this year.

In a research report, the firm said the prices of mass market private homes are likely to rise by the second half of this year if demand continues to hold.

Mid-tier private residential homes, meanwhile, could see price stability towards the later part of the year.

However, DBS Vickers added that the high-end segment will remain subdued for at least the next few months.

The brokerage noted that developers have launched more new homes for sale in April, with buyers eyeing a wide variety of projects in different locations.

Last Friday, data released by the Urban Redevelopment Authority showed that private home sales for April remained strong, with some 1,200 units sold. - CNA /ls

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