Residential

Developers not optimistic about the property market

With the latest round of cooling measures, developers are now less optimistic about the property market, as reflected in the Redas-NUS Real Estate Sentiment Index (RESI) Current Sentiment Index, which fell from 5.1 in Q3 2012 to 4.6 in Q4 2012. The Future Sentiment Index also fell from 4.7 in Q3 to 4.0 in Q4 while the Composite Sentiment Index fell from 4.9 to 4.3. Specifically, the prime residential sector fell to a current net balance of -27% and a future net balance of -49% from -8% and +2%, the suburban residential sector has a current net balance was +10% while future net balance fell from +6% in Q3 to -28% in Q4. Suburban retail and hotel/serviced apartments, on the other hand, had current and future net balances of +14% and +9% respectively. 48% of the ...