Further declines predicted for private home prices and rents in 2015

Singapore

PRICES of private condos could drop by another 5-10 per cent next year, consultants predict, as it looks unlikely that the measures designed to cool down the property market would be tweaked or lifted soon. However, the price tags on new sales could be "stickier" because developers have strengthened their holding power. (see infographic)

DTZ South-east Asia chief operating officer Ong Choon Fah described 2015 as a buyers' and tenants' market. "Funds are looking for bargains, and more people are asking to be on the auction mail list," she said.

But so far, developers have refrained from making major price cuts, preferring to sell the be…