Private property prices to fall 6-8% in 2014: PropertyGuru

Gloomy forecast detailed in new eBook.

Online property portal PropertyGuru announced the launch of the PropertyGuru Market Outlook 2014 eBook, which predicts price drops of 6-8 percent in private property and an 8-11 percent slide in HDB resale prices.

“The PropertyGuru Market Outlook 2014 eBook is our definitive digital guide to empower property seekers to make better informed property decisions," said Steve Melhuish, Co-Founder and Chief Executive Officer of PropertyGuru.

“It is a culmination of our unique leadership position in property listings and information services, an expansive real estate agent network and enriched stakeholder partnerships with developers and consumers to provide insightful perspectives that draw on past trends to predict demand and price behaviour for 2014,” he said.

Leveraging on government data and industry expert opinions, the eBook aims to provide a complete and comprehensive market view for the reader. Topical themes include changing property sentiment and the effect of cooling measures on transaction volumes in 2013.

Moving forward into 2014, the eBook incorporates the Company’s forecast on what to expect in the property market. In a nutshell, PropertyGuru expects 2014 to be quieter as compared to 2013 - with the HDB resale and condo markets experiencing further declines in transaction volumes in the first half of 2014 before reaching a plateau. In correlation to this trend, prices are expected to slide by 8-11 percent (HDB resale) and 6-8 percent (private property).

The eBook also provides useful information and insights to a wide variety of consumers, including first-time home buyers, upgraders and investors.

The eBook is available for free and can be viewed exclusively at PropertyGuru.com.sg/propertyoutlook2014.