Dear Mr. Harcharanjit, Property prices are mainly driven by demand and supply and the economic situation of the country. On a macro view, the property market is going through some challenges. Although people are interested to purchase properties, many of them are not able to get the bank loans thus lowering real demand. Speculators are off the market and longer term investors are not in a hurry to buy which does not help the market at all. However, we are not in a recession thus many property owners are still holding on to the high prices. At most some of them are lowering their prices slightly only for properties that are not in demand for rent. The implementation of GST, the higher costs of living and the reduced spending power had dampened the retail and business sectors. We will see some correction in the next 2 years and more downward pricing if we enter into a recession. If a recession does not occur then the property prices will rebound to another cycle due to inflationary costs and pent up demand. In short the downside risk is higher than an upside for the next 2 years. There will be some opportunities in a crisis but not across the board. David Wong Principal E2097 QUANTUM REAL ESTATE E(3)1320 Mobile
+60193330573
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