Real estate firms fear business decline

Survey shows a net weighted balance of 23% of firms in the real estate industry anticipate a less favourable business climate in the coming months.

According to the Business Expectations Survey for the services sector, firms in the real estate industry are generally cautious in their business outlook for the period ending September 2012, with a majority or a weighted 73% of firms expecting business to remain unchanged.

Meanwhile a weighted 2% of firms expects more favourable business conditions in the coming months, and a weighted 25% of firms is less upbeat about the business situation. The Singapore Department of Statistics said this means a net weighted balance of 23% of firms anticipate a less favourable business climate.

In terms of business receipts, the real estate industry anticipates a decline for the period ending June 2012. On the other hand, firms within the industry expect employment to remain relatively stable during the quarter.