Analysts say S’pore private property market could pick up this year

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.

Source : Channel NewsAsia – 18 May 2009

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