Friday, July 13, 2012

Property prices expected to rise: survey

The majority of respondents in a new survey by Credit Suisse feel that property prices are likely to continue rising and the government is expected to introduce more cooling measures.

Out of 300 polled, around 47 percent believe that housing prices will rise next year, with three in every 10 predicting a 10 percent hike.

On the other hand, 35 percent expect prices to decline.

According to Yvonne Voon and Chok Sing Ping, research analysts at Credit Suisse, the survey shows that “the market has quite a mixed view on the direction of prices”.

But the report noted that “there is a slightly heavier weight towards the expectations of rising prices within the next 12 months”.

Meanwhile, six in every 10 respondents feel that the government will roll out another round of cooling measures with 40 percent expecting it to happen within a year.

Respondents expecting a continuous rise in prices cite “genuine demand” from buyers as well as the ability to purchase a home.

For every 10 respondents, six of them plan to buy a property within three years and 31 percent say that the purchase will be for investment.

Those buying are looking for a place to live in, upgrade from their current home, or buy for their children or parents.

As for shoebox units, six in every 10 would not buy an apartment that’s less than 500 sq ft in size.

View the original article here

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