Property players are a bit less optimistic about the market than they were previously, according to an industry measures.
The sentiment index has weakened to 4.9 from 5.7, while the mood for the months ahead also slipped as compared with the fourth quarter, a likely reflection of the recent market cooling measures.
The index, which is compiled by the National University of Singapore’s Department of Real estate, consists of scores ranging from 0 – the most pessimistic – to 10, which registers a high level of optimism.
As part of the quarterly survey, developers were asked about their expectations of the new private property launches.
As a sign of weakening outlook towards the property sector, 62% of developers surveyed expect more residential units to be launched over the next six months compared with 74% in the previous quarter.
About twice as many developers – around 69% - as compared with the fourth quarter also expect prices to remain flat.
Only 35% of respondents anticipate greater interest in the collective sale market, down from 52%.