Real-estate sentiment down in Q3

Property developers and other industry players are less upbeat on overall real-estate sentiment than before.

They also expect more uncertain market conditions over the next six months.

The Current Real-Estate Sentiment Index fell to 4.8 in the third quarter, down from 5.8 in the second quarter, according to a survey by the Real Estate Developers’ Association of Singapore and the National University of Singapore’s Department of Real Estate.

Among the developers surveyed, only 44 per cent expect more new residential units to be launched over the next six months.

This is down from the 68 per cent in the previous quarter.

Survey respondents said they expect the Government’s measures to cool the red-hot property market to have the most impact on the Housing Board-resale and the mass-private residential segments.

The measures are expected to have the least effect on the high-end and luxury segments, the survey showed.

More than half of those surveyed foresee prices to remain unchanged over the next six months.

Source : Today – 29 Oct 2010

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