No oversupply in property market: consultant

[SINGAPORE] Amid a sea of talk of a pending residential property market crash, one prominent consultant here has backed its resilience barring unforeseen systemic shocks.

Alan Cheong, head of research and consultancy at Savills Singapore, made his case last Friday at Carlton Hotel marking Singapore Management University's (SMU) homecoming celebrations for its Master of Science in Applied Finance programme.

"I think barring external shocks, property prices, residential prices will stay elevated," he said.