RESIDENTIAL PROPERTY | Staff Reporter, Singapore

CapitaLand CEO expects home prices to hike 10%

Thanks to a pickup in home sales in 2017.

According to Bloomberg, Singapore housing prices may rise as much as 10% this year, following a pickup in home sales, the chief executive officer of Southeast Asia’s biggest developer said.

“Transaction volume has gone up and usually that’s a precursor to some price increase,” Lim Ming Yan, the president and CEO of CapitaLand Ltd., said in an interview in Singapore. “A 5-10% increase is possible this year barring any unforeseen major volatility in the capital markets.”

Lim was speaking after the developer said net income fell 38% to $267.7m ($202m) in the three months ended Dec. 31 after finishing fewer homes to sell in China.

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