In a Thursday report, lead analyst Andy Wong says he remains largely cautious on the near-term outlook of the sector, with cooling measures having “clearly manifested” in residential prices as of late.
SINGAPORE (Jan 3): OCBC Investment Research is maintaining “neutral” on the local residential sector after Singapore home prices posted their first decline in six quarters, according to recent Urban Redevelopment Authority (URA) flash estimates.
The research house continues to project a private residential price growth range of -3% to +2% for 2019, while also maintaining its forecast for 10,000 to 12,000 private sales transactions.
