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Business, Society, Blackbox Briefings

S’poreans more optimistic despite property price concerns

With expectations that HDB and private property prices will climb in the next half year, the property Affordability Sentiment Index (ASI) of PropertyGuru’slatest Property Sentiment Survey dipped further in Q3 2012. Most respondents expressed concerns over rising COVs and prices.

However, they are more optimistic with government efforts, with pessimism towards government action down 12 percent from the same period in 2011.

The study was done in collaboration with Blackbox Research, and polled around 1,000 Singaporeans. It found that 69 percent of respondents believe that HDB flat prices will rise in the next six months, up by 12 percent from the previous quarter’s findings. There was also a 19 percent increase quarter-over-quarter among those expecting a hike in cash-over-valuations (COVs).

As for private homes, 64 percent expect prices to rise within the next six months, an increase from the 10 percent seen in Q2.

Read the full article at PropertyGuru