Mass residential prices projected to slide 10% in 2016

Luxury rentals expected to soften, too.

Colliers predicts that mass residential prices will slide 10% in 2016, with luxury residential prices subject to a greater decline of 15% for the year.

According to a research note from Colliers, further, rental growth for luxury properties is expected to soften to 6% in 2016.

Also, luxury prices witnessed a mild decline, down 0.5% QOQ in Q4 2015, resulting in full year growth of 6.2%.

Here's more from Colliers:

Rents for luxury residential properties rose 1.3% QOQ in Q4 2015, resulting in full year growth of 9.7%.

Colliers anticipates a soft landing in home prices after a seven-year boom that has seen prices rise 192% since 2009.

The likelihood of a dramatic falloff in prices following 2015’s all-time high seems remote, as excessive liquidity is still prevalent throughout the global economy.