News
RESIDENTIAL PROPERTY | Staff Reporter, Singapore
view(s)

Chart of the Day: Here's how the property market will fare in 2016

The market will hit bottom this year.

Analysts expect a slight uptick in private property sales transactions this year, with prices expected to drop at a slower pace compared to the past twelve months.

A report by PropertyGuru highlighted that more buyers will be tempted to enter the market as prices have already declined to a level that is palatable for most buyers.

"We foresee that transaction volumes in 2016 will average between 3,500 – 4,000 units in each quarter. In total, we can expect 14,000 – 16,000 units to be transacted in 2016, marginally above that recorded in 2015 by 3 – 5 percent. As for prices, we expect them to continue to decline, albeit at a slower pace, with the market slated to bottom out at the end of 2016," the report said.

"Given that prices have displayed a stable rate of decline per quarter of between 0.5 – 1.3 percent from 2013 to 2015, there is a strong possibility they will display a similar pattern of sustained downward moderation, if things will remain status quo. Prices are likely set to decline by another 2 - 4 percent by the end of 2016," the report added.  

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.