According to the Real Estate Sentiment Index (RESI) released by the Institute of Real Estate and Urban Research (IREU) of the National University of Singapore (NUS), the future sentiment index was 0.1 point higher than the previous quarter's 4.5 points at 4.6 points, but still lower than last year's fourth quarter's 4.9 points. The Composite Sentiment Index, which reflects the overall property market, also remained at a low level of 4.6 points.

NUS invites top real estate executives to participate in the survey every quarter, and then compiles the Composite Sentiment Index.

In the second quarterly survey, 92 per cent of respondents cited the global economic slowdown as the biggest potential risk to the property market, while 72.5 per cent listed inflation and high interest rates as the other major risks.