Singapore Property Market Outlook, likely to go Up or Down?
I just checked the latest info compiled by URA in 4Q 2009.
The link is here: http://www.ura.gov.sg/realEstateWeb/realEstate/pageflow/supply/submitSearch1.do
Year 2010 expected to have 7,584 private property units completed.
Year 2011 about 9,196.
The main increase in Supply is in year 2012 and year 2013, at 13,246 and 15,492 respectively. In year 2014, the number falls to 9,049.
Thus, based on the numbers, it would appear that year 2010 we are still likely to see Supply insufficient to meet Demand, thereby causing an "upward pressure" on Prices.
The Economy and Stock Market in year 2010 are expected to do well, typically this will lead to Property Market doing well as well.
Thus, in the next few months, unless something unexpected happens, we are likely to see prices continue to go up by say 10% to 20% in year 2010. Year 2011 the supply is also not too high.....
The Data again seems to point to a possible "correction" in property prices in Year 2012 if demand falls...
Cheers!
Dennis Ng,