Cooling measures may keep lid on private home prices: Experts

The vacancy rate for completed private residential units (excluding executive condominiums) fell by 0.3 percentage point to 7.1 per cent at the end of the second quarter. Meanwhile, rents posted a 1 per cent increase, compared with the 0.3 per cent r
The vacancy rate for completed private residential units (excluding executive condominiums) fell by 0.3 percentage point to 7.1 per cent at the end of the second quarter. Meanwhile, rents posted a 1 per cent increase, compared with the 0.3 per cent rise in the previous quarter.ST FILE PHOTO

Experts narrow projections for this year, with sales likely to slow

The cooling measures put in place earlier this month are likely to cap the growth in private home prices for the rest of the year.

"Sales are likely to be slower as more buyers, especially those buying a second home to invest, are likely to wait on the sidelines. Notwithstanding that, buyers will still purchase if the project offers a value proposition," said Dr Lee Nai Jia, senior director and head of research at Knight Frank Singapore.

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A version of this article appeared in the print edition of The Straits Times on July 28, 2018, with the headline 'Cooling measures may keep lid on private home prices'. Print Edition | Subscribe