Analysts expect Singapore’s private housing market to face tougher times next year, with the lacklustre economic environment dampening sentiment further, reported TODAYonline.
The US Federal Reserve’s decision to raise interest rates and the existing property curbs could see prices drop by up to eight percent in the next 12 months.
JLL’s National Director for Research and Consultancy Ong Teck Hui, said: “Higher interest rates coupled with cooling measures will dampen demand, perpetuate sluggish market conditions and softening in prices … In 2016, it is expected to fall by at least the same pace or faster if economic conditions worsen.”