Global slowdown, rising rates drive fear across Q2 property survey

Government intervention concern sharply dropped 26.4 percentage points.

Slowdown in the global economy and rising inflation and interest rates were each cited by 81.8% as potential risks that might impact market sentiment in the second quarter (Q2), according to National University of Singapore's (NUS) Real Estate Sentiment Index.

Compared to the previous quarter, 80% cited increasing inflation and interest rates in NUS’ survey, whilst 75% cited global economic slowdown.

Concerns over unemployment edged down 0.9 percentage point to 59.1%, from 60.0% in the previous quarter, whilst rising construction costs stood at 45.5%, down from 65.0%.

Worries over tightening of financing and liquidity in the debt market eased in Q2 to 27.3%, compared with 35.0% in the first quarter (Q1).

Concerns over the increased supply of new development land rose to 22.7% from 10.0% in Q1, whilst worries over excessive supply of new property launches climbed to 18.2% from 5.0% previously.

In contrast, concerns over government (demand-side) intervention to cool the market fell sharply to 13.6% from 40.0% in Q1, whilst worries over a real estate price bubble or excessive speculative activities eased to 4.5% from 15.0%.

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