A latest survey on real estate developers shows that market sentiment has cooled.
The Composite Sentiment Index of the NUS-REDAS Real Estate Sentiment Index (RESI) Survey dipped to 3.8 in the fourth quarter from 4.0 in the preceding quarter.
The Current Sentiment Index stood at 3.7, down from 4.1 in the last quarter, while the Future Sentiment Index edged down to 3.9 from 4.0.
A score under five indicates deteriorating market conditions, while scores above five indicate improving conditions. In the survey, a "current and future net balance percentage" is used to indicate current and future sentiments about real estate development and market conditions in Singapore.