A recent report that gathered information from the RESI (Real Estate Sentiment Index) has shown a number of developers having a declining attitude in 2015’s 3rd Quarter. Of their concerns, the largest are rising interest rates, inflation and an expectation of a nex shopping centre slowdown in the global economy. The survey showed most respondents feel the government should either adjust or lift the cooling measures for lew lian condo still in place over the next 6 month period.
Developed jointly by the National University of Singapore’s Department of Real Estate and Redas ( Real Estate Developers’ Association of Singapore) the RESI survey took place in the 3rd Quarter with 64 respondents in total.
Views on Lorong Lew Lian Condo
A dip down to 3.7 for the 3rd Quarter from the 2nd Quarter’s 3.9 was shown on the Current Sentiment index, a report that keeps track of the attitude of cdl condo upper serangoon developers for a 6 month period. On the Future Sentiment Index, which tracks attitude changes for the coming 6 months, showed a dip to 3.7 from the 2nd Quarter’s 4.0.
Another overall derived index, the Composite Sentiment Index, saw a drop to 3.7 from the 2nd Quarter’s 3.9. These index reports range up to 10 for each one, with a neutral point of 5.0. It was in 2010’s 4th Quarter that the index was last above the 5.0 mark.
Sing Tien Foo, an associate professor at the National University of Singapore, pointed out that this weaker sentiment in the lorong lew lian new launch market has bled into prime office and retail sectors for the 3rd Quarter of this year, with more respondents calling for the government to remove some of the cooling measures still in place in order to stop market conditions that are worsening, such as the Additional Buyer’s Stamp Duty for upper serangoon new condo and the Seller’s Stamp Duty.
Lorong Lew Lian Condo Hong Leong
The sentiment remained pensive for the prime retail sector for the 3rd Quarter. The attitude of developers’ over these past 6 months, or current sentiment index, marked a net balance of -57%. This is the difference between the amount who chose negative options and those who opted for the positive options in the survey. For the next 6 months, or future sentiment index, the attitudes of developers’ also came in at a -57% net balance.
Current sentiment for the prime residential sector came in at a net balance of -50%, and the future sentiment came in at -52%. Current sentiment for the office sector was -48%, with -58% coming in for the future sentiment.
Nearly 92.2% of those who took the survey have said they expect the weakened global economy to negatively affect the upper serangoon lew lian sentiment in the market over the coming 6 months. Around 76.6% also believe that interest rates and rising inflation posed a potential risk to the market sentiment. About 42.2% are forecasting new launches to create an over supply in the property market.
Upper Serangoon Condo
In the 3rd Quarter survey, 60% of those who took the survey are expecting a decline in prices for residential properties hat is moderate over the coming 6 months. This is up from 2nd Quarter’s survey figure of 52.4%. Around 82.3% believe that, in order to shift stock that is unsold, developers should be cutting the prices for their new launches.
In regard to a question asked about cooling measures, 83.1% feel that the next 6 months should see the government wither adjusting or lifting the current cooling measures for lorong lew lian condo in upper serangoon road. About 60.8% feel that the Additional Buyer’s Stamp Duty should be removed and over 50% felt that the Seller’s Stamp Duty should be lifted.