Various media citing a recent Barclays report said that Singapore property prices will bottom out by mid-2016, after expecting to fall by another 10% because of rising mortgage rates and large housing supply between 2014 and 2018.
According to the quote of Barclays by PropertyGuru, the Singapore Government will only remove the housing cooling measures after the General Elections in 2016.
“However, we expect new supply completions to dip beyond 2018 due to the tight Government Land Sales policy since 1H2012 and the low level of developer sales since the Total Debt Servicing Ratio (TDSR) policy was introduced in June 2013. We see the likelihood of a reprieve from the unwinding of property tightening measures happening after the general election, which has to take place by May 2016.”
Do you think the PAP government is trying to bring down housing prices at the moment before the elections to appease Singapore voters, only to raise housing prices after the General Elections?