Singapore residential property sales is expected to remain moderate for the rest of the year, on the back of the growing mismatch of price expectations among buyers and sellers.

Sellers in the secondary market were placed under greater pressure to reduce their asking prices as the URA Private Property Price Index fell during the first quarter of 2019.

The decline in URA price indices was more reactive of the prices of completed homes transacted in the secondary market, given that prices of new projects were holding up during the first quarter.
In fact, the NUS Singapore Residential Price Index, which tracks prices of completed non-landed private homes and a proxy for the secondary market, eased 0.5 percent month-to-month after registering a 0.2 percent dip in January.

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