Real Estate Sentiment Index (RESI)
(SINGAPORE) In a historic move, the Real Estate Developers’ Association of Singapore has teamed up with the National University of Singapore’s Department of Real Estate (DRE) to develop a Real Estate Sentiment Index (RESI), and it shows a lower reading for the second quarter of this year than for the first quarter.
Developers and industry players continue to express positive sentiments but expect market conditions to be less robust, Redas and DRE said.
More respondents were still positive (rather than negative) on the overall performance of the prime and suburban private residential markets over the next six months but the consensus as indicated by net balances weakened in the second quarter compared with the first quarter.
On the other hand, the net balance for offices improved substantially, in tandem with improving sentiment in this segment in April-June.
The survey also found that 51 per cent of developers polled for Q2 expect price growth for new residential launches, down from 85 per cent in Q1.
‘The partnership between NUS and Redas has ensured academic rigour and added credibility to the new index.’ - Redas CEO Steven Choo
About 68 per cent of developers surveyed in Q2 expect more units to be launched over the next six months, down from 83 per cent in the Jan-March period.
The findings of the survey will be officially released this morning at the Redas Property Prospects Update 2010 seminar at Orchard Hotel.
Some market watchers welcomed Redas efforts in coming up with an objective method of gauging the confidence level of senior executives of property developers - and making it public. ‘It’s good to hear from the horse’s mouth,’ said DTZ executive director Ong Choon Fah.
Redas CEO Steven Choo noted that ‘while business expectation surveys are available for the manufacturing and service industries, there is currently no indicator specifically tracking sentiment in the fast-paced real estate market of Singapore’.
Some industry watchers also pointed to the refreshing change at Redas. ‘Previously, something like this, showing a slowdown in sentiment, would have been considered extremely sensitive and developers may have tried to hide it. Now they’re more open about it,’ said an observer.
Developers and industry players continue to express positive sentiments but expect market conditions to be less robust, Redas and DRE said.
More respondents were still positive (rather than negative) on the overall performance of the prime and suburban private residential markets over the next six months but the consensus as indicated by net balances weakened in the second quarter compared with the first quarter.
On the other hand, the net balance for offices improved substantially, in tandem with improving sentiment in this segment in April-June.
The survey also found that 51 per cent of developers polled for Q2 expect price growth for new residential launches, down from 85 per cent in Q1.
‘The partnership between NUS and Redas has ensured academic rigour and added credibility to the new index.’ - Redas CEO Steven Choo
About 68 per cent of developers surveyed in Q2 expect more units to be launched over the next six months, down from 83 per cent in the Jan-March period.
The findings of the survey will be officially released this morning at the Redas Property Prospects Update 2010 seminar at Orchard Hotel.
Some market watchers welcomed Redas efforts in coming up with an objective method of gauging the confidence level of senior executives of property developers - and making it public. ‘It’s good to hear from the horse’s mouth,’ said DTZ executive director Ong Choon Fah.
Redas CEO Steven Choo noted that ‘while business expectation surveys are available for the manufacturing and service industries, there is currently no indicator specifically tracking sentiment in the fast-paced real estate market of Singapore’.
Some industry watchers also pointed to the refreshing change at Redas. ‘Previously, something like this, showing a slowdown in sentiment, would have been considered extremely sensitive and developers may have tried to hide it. Now they’re more open about it,’ said an observer.
Comments
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.
BORROWERS APPLICATION DETAILS
1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..
Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com