43.5% of the Real Estate Sentiment Index (RESI) participants wish the government could review the policies on Additional Buyer’s Stamp Duty (ABSD), Seller’s Stamp Duty (SSD) and Total Debt Servicing Ratio (TDSR) in 2015.
Jointly developed by the Real Estate Developers’ Association of Singapore (REDAS) and the Department of Real Estate at National University of Singapore (NUS), RESI surveys senior executives of REDAS member firms every quarter, and measures the perceptions and expectations of Singapore’s real estate development and market conditions.
One participant hopes to see “how the government plans to address the rising vacancy rates expected in the residential market in light of the increased completed supply in the public and private housing segments in the next two years.”
Other wishes from respondents include review of foreign labour policies, and low interest rate environment along with a better economy.
More than 70 percent of the respondents predicted property prices will dip by five to 10 percent and new sales transaction volume will decrease by 15 to 20 percent this year.
When asked about their expectations for the number of new residential units to be launched in the next six months, 35.1 percent of the developers surveyed in Q4 2014 expect new property launches to hold at the same level in the next six months.
In terms of unit price change, 70.3 percent of the developers foresee a moderate drop in residential property prices in the next six months.
Muneerah Bee, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email muneerah@propertyguru.com.sg
