Exactly what Happening in the Singapore Property Market?
Singaporeans have been very vocal recently about property prices in Singapore. In fact, property prices have sky rocketed in the last few years after the recovery contrary to the US financial crisis of 2008. In fact, property prices have increased so much that it is pricing out many first time buyers from the demand. With cheap financing available throughout the world today, are usually many huge inflow of funds into the Singapore Property Market in Singapore.
Singapore is an Investment Haven
Singapore is a person of the easiest countries in the world to conduct business. On top of this, it is a country which places emphasis on law and . There are also strict laws in place to protect buyers and investors. A country which places focus on protecting investors usually attract investments. For property investment, jade scape tend to be heavy restrictions to safeguard people’s money as Singapore property arena.
Demand & Supply of Singapore Property
There are currently 5.1 million people Singapore. In Feb 2013, Singapore came out with a white paper which projects 6.9 million folks the small city state of Singapore by 2030. Currently, there is not enough housing in Singapore due to the sudden influx people into Singapore in the past two very long time. How about in 17 years time? Therefore many much increase needed for housing, and limited land in Singapore, the property market in Singapore is set somewhat red hot by 2030.
Should one invest in Singapore Property?
In Singapore, just 15% of properties are private belongings. This means there are 85% of current market that foreigners will not be able shop for. Private properties in this case refers to apartments, condominums and landed properties. Make use of of the basic economic terms, if is actually limited supply of private properties for investment and with cheap financing providing liquidity for strong demand, property prices almost all set to head up north. With the projected population set to rise to 6.9 million, the increase of property prices in Singapore isn’t finished. There is still room for popularity.
The property market in Singapore is focused to become very competitive. With a projected 6.9 million people on limited land of only 700 square kilometres, the market get hotly contested. While economic factors will affect property prices in the short term,. in the long run, demand and provide will dictate the actual way the property market will move. Right now, it looks like demand will outstrip supply.