Singapore property developers remain bleak over the latest outlook and state of residential market, based on NUS-Redas Real Estate Sentiment Index latest survey.
The latest survey for quarterly report is based on the data collected on respondents’ expectations and perceptions of latest and upcoming property market conditions.
To be particular, the latest sentiment index up from 3.6 of Q4 2015 to 3.9 in first quarter of 2016, and for the future sentiment index, the results increased to 3.6 in Q1 2016 from 3.4 in the previous quarter. Therefore, the result overall index rose to 3.8 in Q1 2016 from 3.5 in the previous quarter.
However, property developers are still unhappy to the slight improvement, the score below 5 shows weakening market conditions, and a score higher than means positive market conditions, according to Sing Tien Foo, Associate Professor, Department of Real Estate, NUS.
Nevertheless, around 33% of developers expected a rise in new launches, 52.8% believe the measure will be the same, and 13.8% said they would launch fairly fewer units.