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Singapore property analysts turn bullish, predict 10% price gain

Bloomberg Published on Tue, Sep 19, 2017 / 8:16 AM GMT+8

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(Sept 19): After years of declining home prices in Singapore, analysts are expecting a turnaround as early as this year even as most of the government’s property cooling measures remain in place.

Singapore property prices will rise between 5% and 10% next year after bottoming out in 2017, analyst Vikrant Pandey at UOB Kay Hian Pte said. Morgan Stanley earlier this month said home prices will climb 2% this year and 10% by the end of 2018, turning around earlier and rising faster than people expect.

“We foresee the nascent recovery spreading to the mid-range and high-end segments in the next wave, driven by replacement demand from redevelopment of old housing projects and a pick-up in homebuying interest from foreigners,” Pandey said in a note Monday.