Property facing demand-supply mismatch but observers see limited price downside
Commentators say price cuts will be moderate, with more buyers expecting stable or only slight falls in prices; demand from en bloc millionaires to stay resilient
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Singapore
WHILE the current situation of high supply and subdued demand in the property market may be challenging, observers say that the downside may be limited as private home prices look towards stabilisation.
Cooling measures introduced in July last year have "remained a restraining factor" for both foreign and local buyers, said Chia Ngiang Hong, president of the Real Estate Developers' Association of Singapore (Redas).
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