Further correction in Singapore property prices could come: JLL

RECENT declines in the Singapore stock market could signal a further correction in property prices in the coming quarters, said investment management firm JLL on Wednesday.

Said Chua Yang Liang, JLL's head of research, South-east Asia: "Looking back into the past, the residential market for example, corrected by 4 to 6 per cent a quarter in some instances. Should the market lose footing, it is not impossible to expect a recessionary correction of this magnitude.

"If this scenario pans out and threatens the stability of the property market and wider economy, it may prompt the government to revisit its property cooling measures and other macro-economic policies including economic stimulus packages."