Chart of the Day: Real estate firms extremely downbeat on 2H growth prospects

19% of firms expect deteriorating business climate.

Real estate firms are extremely pessimistic on their growth prospects for the second half of the year, according to the Business Expectations Survey of services sector by the Department of Statistics.

A net weighted balance of 19% of firms expect the business climate to be less favourable in the second half, an increase from 17% in the past quarter.

Developers continue to cite the series of government measures, including the Additional Buyer’s Stamp Duty (ABSD) and the Total Debt Servicing Ratio (TDSR) framework, as the reasons for their negative outlook.

Within the services sector, all industries except the real estate and wholesale trade industries are optimistic about the business conditions for the next six months.