Expect property take-up to be lower: CBRE

Meanwhile home prices are stabilising with 1.9 percent increase in the second quarter compared to 2.2 percent in the previous quarter.

Joseph Tan, Executive Director, Residential at CBRE noted:

Going forward, developers will continue to launch new suburban leasehold projects. However, we expect the take-up in Q3 2011 to be lower than Q2 2011’s volume. This is in view of the record supply of public housing being released to the market as well as a possible tweaking of government policies in the coming months that may impact this segment of the market. Global economic concerns is another factor that will add caution to the Singapore market.

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