Saturday, January 25, 2014

Property Market 2014 Outlook by Property Guru

PropertyGuru, an online property portal in Singapore, has announce the launch of the PropertyGuru Property Market Outlook 2014 eBook. First in Singapore, the eBook is available for free and can be viewed exclusively at

Mentioned Steve Melhuish, Co-Founder and Chief Executive Officer of PropertyGuru: “The PropertyGuru Market Outlook 2014 eBook is our definitive digital guide to empower property seekers to make better informed property decisions.”

“It is a culmination of our unique leadership position in property listings and information services, an expansive real estate agent network and enriched stakeholder partnerships with developers and consumers to provide insightful perspectives that draw on past trends to predict demand and price behaviour for 2014,” he said.

Leveraging on government data and industry expert opinions, the eBook aims to provide a complete and comprehensive market view for the reader. Topical themes include changing property sentiment and the effect of cooling measures on transaction volumes in 2013.

Moving forward into 2014, the eBook incorporates the Company’s forecast on what to expect in the property market. In a nutshell, PropertyGuru expects 2014 to be quieter as compared to 2013 - with the HDB resale and condo markets experiencing further declines in transaction volumes in the first half of 2014 before reaching a plateau. In correlation to this trend, prices are expected to slide by 8-11 percent (HDB resale) and 6-8 percent (private property).

Other compelling insights from the eBook by consumer segment include:

First-Time Home Buyers:. The new supply of 24,000 HDB units in 2014 will provide first time buyers with more choices, better bargaining position – and relief on price rises. This will be a welcome relief after the highly competitive environment of 2012 and 2013. Housing availability will be further improved with projected decline in BTO applications and Singaporean population numbers.

Upgraders: New restrictions on the capacity to borrow under the new cooling measures will reduce the ability of upgraders to gain the funds to move to condos. Most will be expected to adopt a wait-and-see approach as the market continues to soften.

Investors: High-net worth individuals will remain cautious investors owing to the TDSR and ABSD restrictions and restrictions on what properties can be rented and purchased. The cooling measures will definitely affect the investment market in 2014. This will in turn be reflected in lower prices – reducing the attraction of the investment segment in 2014.

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