SINGAPORE (Reuters) – Singapore’s housing market is expected to build on its recovery over 2018, analysts say, as private home prices marked their first annual rise in four years.
After hitting a record peak in the third quarter of 2013, a string of government cooling measures drove private residential home prices down for 15 consecutive quarters through to the second quarter of this year.
That downturn may be over if optimistic forecasts by analysts are anything to go by, with a strong pick up on the cards after home prices edged up just 1.0 percent for the whole of 2017.
If the forecasts stack up, the city state’s economy could get an extra fillip from the expected pick up in construction activity, though there was scant data on the specific impact on output.
Jefferies expects a rise of low-to-mid single digits in residential prices in 2018.
Real estate services firm Colliers on Wednesday said average home prices may rise by 17 percent over 2018-2021, supported by higher economic growth, falling physical completions and ongoing collective sale deals.
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