Price of Property Directions 2017 & 2018

Here are recent media reports on the Price of Properties going forward from end 2017 to 2018...

Wave of recovery to spread to mid and high end properties: UOB
(The Edge Property, 19 Sep 2017)

Singapore property prices are expected to rise by 5-10% next year after bottoming out this year as the nascent recovery spreads to the mid-range and high-end segments in the next wave, says UOB Kay Hian....

The next wave of recovery in the property sector will predominantly be driven from bottom up, starting from the mass-market and flowing over to the high-end segment. The return of enbloc sales and greater scope for foreign participation should power the high-end segment ahead, benefitting developers with such landbank exposure....

Singapore Home Prices Have Bottomed, Hong Kong's Are ‘Crazy’: BNP
(The Edge Property, 27 Sep 2017)

Singapore home prices have reached a bottom and will rebound, while Hong Kong’s “crazy” housing market will continue to defy gravity, according to BNP Paribas SA.....

Singapore property prices have declined for 15 quarters — the longest slide since data was first published in 1975 — as the government rolled out a series of curbs. Home values have dropped 12 percent from their 2013 peak, while Hong Kong prices reached record highs earlier this year.....

Higher land bids may fuel market recovery
(Business Times, 28 Sep 2017)

THE bidding of the land parcels in the H1 2017 government land sales (GLS) programme witnessed a record number of bids and historic high price quantums for land parcels zoned for residential use in the suburban areas....

While the high land bids may be symptomatic of optimism in the market, they also reflect the value of the locations. Most of the land parcels in the H1 and H2 GLS were at choice locations....

Logically, land bids act as a signal for future pricing because the developers peg their bids based on their judgement of prices nine to 15 months later. However, much research has established that property buyers tend to look in hindsight, using past price trends as a guide. Hence, bids are usually correlated to existing sales and prevailing prices. For instance, when the market crashed in 2008/2009 due to the global financial crisis (GFC), land bids dropped significantly.....

Higher land bids create a domino effect, fuelling further optimism in the residential market. Areas where land bids were high and competitive recorded greater transactional activity, both in the primary and secondary markets.....

CONCLUSION

While it can get scary for 2018, if you have the opportunities to purchase something in 2017. Objectively, do consider these opportunities seriously and get your property.