Prices of private properties in Singapore predicted to jump 2%

OCR prices seen to rise 7%.

According to PropNex, the mass market segment will remain resilient as they are well-supported by genuine upgraders. We are cautiously optimistic that private property prices could rise by 2% for the whole year, with OCR properties to rise by up between 7%.

PropNex also believes that the buying sentiment in the private residential market would continue to remain stable, underpinned by continuing inflow of liquidity, low interest rates and the slew of upcoming project launches. In addition, prospective homebuyers who may be sensitive to price levels with the higher ABSD and cash down payment, are also enticed with the wider choice of residential projects from the new launches.” 

“Projects with good location attribute and attractive price offers would be enticing draws for prospective buyers. Given the abundant choices in the market, developers are likely to be nimble with pricing to avoid hitting buyer’s price resistance level, especially after the implementation of a 60% TDSR threshold.