This research house has an unbearish view of local residential property market

By PC Lee / The Edge Singapore | February 11, 2019 2:02 PM SGT
SINGAPORE (Feb 11): Jefferies expects Singapore’s non-landed private residential price index to stay flat this year given rents are expected to improve about 2%, the supply pipeline is half of what the sector saw back in 2013 and resident population growth has been steady and the economy is witnessing net job additions.
While Singapore’s total population growth has slowed to less than 0.5% from more than 1% in the first half of the decade, resident population growth has been steady at about 30,000 annually. Adjusted for average family size, it should lead to a stable 10,000 demand for homes annually. More importantly, after a reduction in 2016 and 2017, jobs are being added since 2Q18. and wages are growing 5% annually since 2010.
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