Singapore prices to rise 5% in 2011 and 2012
December 17, 2010 - Singapore
Residential property prices in Singapore are expected to increase five per cent in each of the next two years - on top of an estimated 15 per cent gain this year - due to low interest rates, a growing population, and strong economic expansion, according to the international financial services group Credit Suisse.
Credit Suisse said any weakness in the world economy, new cooling measures by the government and a strong interest rates would be risk factors for the Lion State's residential property market.
As reported on TODAYonline, City Developments is the investment bank's top pick among the Singapore-listed property stocks as its commercial and luxury properties show better prospects than mass-market housing in 2011.
Credit Suisse also suggested that Singapore, Hong Kong, and Japan are three interesting markets to invest in residential and commercial property, while investors should avoid the residential market in China in the coming year.
Source: Property Report
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