SINGAPORE (Dec 16): CIMB expects the affordability of Singapore homes next year to be eroded on the back of higher mortgage rate as interest rates inch up further.
And this erosion, coupled with incoming new inventory, will continue to be a drag on rental and price outlook, says the research house.
“We expect private residential prices to continue declining by about 5% while volume sales remain about 8,000-9,000,” says lead analyst Lock Mun Yee in a Thursday report.
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