Here are some interesting statistics regarding the Private Property Outlook.
The prices of new launches in the OCR is between $1,100 to $1,200 psf. Prices of RCR averaged about $1,500 psf while CCR is between $2,200 to $2,600. The gap between FH and 99 is narrowing.
While the population is not growing as fast, the total supply of private and hdb is above 30,000 units per year. Supply of private property is above 10,000 units per year. This has create an oversupply situation.
Vacancy in private property market is expected to go up with the current supply situation.
With current foreign work force, and an over supply situation, vacancy rate is expected to go up.
Source: URA, Property Guru