Property analysts say prices are likely to fall further in the third quarter, but experts rule out massive declines because of the multiplier effect from Singapore’s two multi-billion-dollar integrated resorts (IR) now under construction. Housing demand is expected to pick up when the first IR in Marina Bay opens next year employing thousands of workers, said Mr Chua Yang Liang, Jones Lang LaSalle’s...
Singapore Residential
Singapore’s booming residential property sector is finally showing signs of cooling but projects including the two integrated resorts developments should underpin long-term prices, analysts say. The market was described by real estate giant Jones Lang LaSalle as the world’s hottest in 2007, when the city-state’s property prices surged 31 per cent overall. But this year the sector has not escaped...
Investment sales level in the Singapore property market in the first quarter of 2008 was similar to that in the fourth quarter of 2007 despite deepening concerns regarding the US economy. A report by DTZ Debenham Tie Leung said a total of S$8.4 billion worth of transactions was concluded, a slight increase of one per cent quarter-on-quarter. The office sector was the best performer with S$3.4 billion in...