Welcome to Gaia! :: View User's Journal | Gaia Journals


View User's Journal

Report This Entry Subscribe to this Journal
shelby9good5 Journal shelby9good5 Personal Journal

Community Member
Singapore property prices to record 4% loss, Hong Kong next? - Select Property
A clearer investment outlook is emerging in the Southeast Asian property markets following Black Monday.


Property values in Singapore have fallen 3.2% during the second quarter of 2015Economic uncertainty and rising housing supply means the market could continue to contract in the medium termIn Hong Kong, could Black Monday finally temper the white-hot Hong Kong property market?

Singapore property posted the second largest fall among the major Southeast Asian markets in the second quarter of the year.

In the April-to-June period, research from Knight Frank shows private home prices in Singapore decreased by 3.2% on a year-on-year basis and the overall loss for 2015 could hit 4.0%.

Alice Tan, Knight Frank Singapores Director and Head of Consultancy and Research, said: Singapores continual fall in non-landed private home prices demonstrates persistent weakness of the market, with prospective buyers remaining cautious against the backdrop of existing cooling measures and in anticipation of further price correction.

She told investors that as the year draws to a close, Singapores private home market could face a further decline in both capital values and rental performance.

Although unlike other Southeast Asian markets Singapore is not directly impacted by Black Monday Chinese share woes, the market does face a domestic economic slowdown, a rising supply of new homes, and an impending hike in interest rates.

Elsewhere in the region, Hong Kong property showed that it continues to defy government cooling measures. In the second quarter of the year, prices increased by 20.7%.

However, this was prior to the events of Black Monday and it has since emerged investors and buyers are reluctant to increase their exposure to the market. Transaction volumes fell almost 30% according to the Land Registry, and market analysts expect sales in the Special Administrative Region will remain subdued for some time.


Manage Your Items
Other Stuff
Get GCash
Get Items
More Items
Where Everyone Hangs Out
Other Community Areas
Virtual Spaces
Fun Stuff
Gaia's Games
Play with GCash
Play with Platinum

Customize your own avatar now!

Join Now

Have an account? Login Now!