Date: 21 January 2014
Venue: The Grand Hyatt
Interviewee: Steve Melhuish, Co-Founder and CEO, PropertyGuru
Q&As:
PS = Property Soul
Steve = Steve Melhuish
PS: What do you think about the property market in 2013 and what is going to happen in 2014?
Steve: 2013 is an important year with the cooling measures showing their impact on the reduction of transaction volumes in the first half of the year, followed by the softening of prices in the last two quarters.
In 2014, with increased supply and declining prices, home buyers and investors will continue to adopt a wait-and-see approach and delay their purchases. Developers and property owners are both taking a longer time to market their properties.
PS: What are the negative factors and to what extent will they affect the public, private and commercial property markets?
Steve: They include the lack of buying interest due to buyer/seller stamp duties; ......