The prices of Singapore’s residential property will decline by 12.5 percent this year and a further 8 percent during 2013 according to a new report from Bank of America Merrill Lynch.
“We maintain our view of a 2012 inflection point for residential pricing driven by excess supply, demand moderation and slowing economic growth,” noted the report which was published today.
“We forecast prices to fall 12.5 percent in 2012 and 8 percent in 2013 and would avoid exposure to residential developers. Despite recent price declines, we think it is too early to turn positive and would wait for evidence of a physical market correction before re-visiting the sector.” Full story
