Redas president thinks that the authorities will act where and if necessary to maintain a stable and sustainable real estate market.
Regardless of the uneven new house sales performance across various projects and sections, Real Estate Developers’ Association of Singapore (Redas) president Chia Ngiang Hong anticipates the private residential market to remain stable in accordance with economic fundamentals, reported The Business Times.
“At the start of the year, many analysts anticipate new house sales for the year 2020 to remain resilient and approximately match 2019’s degree. Prices of new houses are not expected to change considerably,” explained Chia.
That is notwithstanding the remaining matter of land developers over the long run supply and buildup of unsold inventory.
Chia is convinced that the authorities will act where and if necessary to maintain a stable and sustainable real estate market.
In fact, the very powerful”growth in fixed asset investments and foreign direct investments in 2019 despite powerful headwinds is testament to this. Our monetary and fiscal systems are well managed and seem”, he said.
He also considers that the financial fundamentals of this city-state remain solid, together with Singapore continued to attract talent, companies, global capital and investments.
Chia noted that”opportunities abound to us to utilize our authorities and city planners to further build, transform and modernise Singapore”.
Therefore,”climate change, technological advancements, smart innovations and evolving demands and aspirations while tumultuous will also introduce new opportunities for our real estate companies”.
These factors, according to him, can help strengthen and encourage the market’s expansion while maintaining the real estate companies and the market stable and resilient, and despite the current challenges at the macro-environment.