Developers brace for protracted residential property downcycle

Cooling measures won’t be eased anytime soon.

The bottom is a long way away for the residential property market downcycle, with the home price index down only 4% from its peak and developers unwilling to budge in the pricing war.

According to BNP Paribas, if home prices don’t fall more quickly, policy relaxation could be delayed and the bottoming-out process for the residential market could be a protracted one.

“Our analysis of the past three down-cycles (1998 to 2009) suggests policy easing will happen when home prices fall c15%. We forecast a 10-15% decline in home prices over 2014-16. The current stalemate and absence of catalysts could cap developers’ share performances in the short term, in our view,” stated the report. 

Join Singapore Business Review community
A NOTE FROM SINGAPORE BUSINESS REVIEW

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.


If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Exclusives

Monday.com picks Singapore for Southeast Asia expansion
Its in-house designers created Singapore-inspired artwork in the company's colors.
Tsuklio targets dual-income families in Singapore expansion
The Japanese meal subscription platform logged 3,000 pre-registrations before launch.
Choosier Asia buyers steer auctions toward rare art
Collectors are bidding harder for works with clear ownership histories.