Housing loan growth in Singapore fell to 9.5 percent in 2013 from 15.9 percent in 2012, indicating weaker property sales as well as a higher base factor, said Maybank Kim Eng.
However, Maybank noted that the pace of deceleration, particularly over the last quarter of 2013, was sharper than expected.
Moving forward, it expects the slowdown to persist till 2015, with prospective growth likely driven by "loan drawdowns from newly completed homes that were sold in 2011 to 2012".
URA data shows that a total of 19,302 units will be completed this year with an additional 18,278 units expected in 2015.
Christopher Chitty, Senior Content Producer at PropertyGuru edited this story. To contact him about this or other stories, email christopher@propertyguru.com.sg
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