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BNP Paribas Report: Housing market heading towards oversupply, but prices unlikely to drop

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BNP Paribas has proposed in a recent report that expenses of private property have not dipped fundamentally in spite of cooling measures, as designers are hesitant to lower costs because of the high cost at which land was obtained. Land has been acquired in recent years at S$400 to S$800 psf.

Prices remain elevated to ensure developer profits. BNP Paribas' report likewise recommends Singapore's lodging business sector may face oversupply from 2016 because of lower interest, including oversupply of private property, tight migration approaches and rising interest rates.

Costs are relied upon to hit the most minimal point in 2018/2019. Expert Chong Kang Ho trusts the base case situation would see the oversupply at the very least in 2020 preceding the circumstance progresses.

With proactive supply cuts and no outer stuns, BNP Paribas trusts the present oversupply cycle won't have as negative an effect as the one somewhere around 1997 and 2006.

Taken from iProperty

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Guest Sunday, 20 October 2019