A report released by property consultancy Jones Lang LaSalle (JLL) has highlighted a notable decline in Singapore’s residential property market.
Only 300 housing units were completed in Q1 2012, down 36.2 percent from last quarter.
According to JLL, “Sales volume continues to fall as the impact of the new measures is felt. Rents for residential properties continue to fall as supply hits the market”.
For its 12-month outlook, JLL forecasts a decline in rents and capital values for properties in the prime districts due to supply pressure as well as the effects of the latest cooling measures.
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