The Business Times @BTBreakingnews 1m
DBS ceo expects property prices to fall 10-15% this year, high end 15 and lower end 10.
The Business Times @BTBreakingnews 1m
DBS ceo expects property prices to fall 10-15% this year, high end 15 and lower end 10.
http://www.businesstimes.com.sg/brea...s-ceo-20140214
DBS CEO Piyush Gupta on Friday said he expects residential property prices in Singapore to fall 10 to 15 per cent this year but will not have a material impact on the bank's earnings.
Potential pressure, if any, would come from higher unemployment, rather than a decline in property prices.
Earlier, DBS CFO Chng Sok Hui said that net interest margin will remain at around 1.6 per cent this year. She expects loans to expand at a pace of 8 to 10 per cent in 2014, slowing from an 18 per cent growth in 2013.
DBS will be investing S$200 million over three years in digital banking to make the customer experience more interactive and intuitive.
so based on what the CEO thinks, does DBS mortgage division now offers lower valuation as compared to other banks?
prices don't fall means nobody buy
nobody buy means no mortgage business
what else can this CEO say right
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"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
Last edited by walkthetiger; 14-02-14 at 23:43.
A bottle of Lafite '82 for all my coffeeshop friends yesterday...many don't know what is it....haha...
The minimum holding period between buying and selling is around 3 to 4 years because of SSD. What happen between that period is in material unless there are competing development within the same location selling at cheaper price.
so please keep your jiao wei to yourself first.
"Never argue with an idiot, or he will drag you down to his level and beat you with experience."
So you mean if carrotheads like you purchase a $1700psf property in jurong east with no further launches in that area in the next few years, price will have no potential of falling? You mean prices of projects around the island can't affect prices in jurong east? No wonder guys like you get easily swayed by developers into buying at sky high prices. I think if govt decide to turn Tuas into condo hub, you will be the first carrothead to pay $2000psf for a condo there
SINGAPORE — Singapore home prices may fall by 10-15 per cent this year as government cooling measures and tougher limits on borrowing continue to dampen the property market, DBS CEO Piyush Gupta said today (Feb 14).
“The top-end of the market is likely to be 15 per cent, the lower-end more likely 10 per cent. The quantum and extent of correction will obviously be equally a function of the government and MAS (Monetary Authority of Singapore) tweaking the macroprudential policies,” he said at a briefing on DBS’s results for the fourth quarter of 2013.
Mr Gupta’s views were more bearish than that of most property analysts, who see home prices declining by 5-10 per cent.
But DBS, which reported on Friday a six per cent rise in fourth quarter profits, is not overly concerned about a sharp correction in residential property prices.
According to Mr Gupta, stress tests carried out by DBS showed that it can easily withstand a 30 per cent reduction in Singapore home prices.
Singapore private home prices fell 0.9 per cent quarter-on-quarter in the last three months of 2013 — the first decline in almost two years as the government’s mortgage curbs took effect.
But DBS confident it can withstand a up to 30-per-cent reduction in home prices
Taking the cue, by now we should know how much more % the bear cycle will last.