What are Singaporeans’ views on the local property market?
Below is an extract of the findings from PropertyGuru Consumer Sentiment Survey:
- 46% of Singapore’s home buyers anticipate prices to rise further this year
- Satisfaction levels in the Singapore residential market have gone up (37%) but unsatisfaction levels are still higher (42%). About 21% of respondents are neutral.
- The record satisfaction level is due to the anticipation of long-term capital appreciation (45%) and the prevailing low mortgage rates (30%). Additionally, 28% said Singapore has a stable and resilient real estate market.
- About 37% of respondents cited high prices as the top deterrent for not purchasing a property.
- In the next six months, price hikes for condos are the most anticipated (67%), up from 57% in the previous survey.
- More respondents (72%) expect condo prices to grow in the next five years.
- About 26% anticipate price increases of more than 10%.
- About 44% plan to buy homes in districts 15 (East Coast and Marine Parade) and 11 (Newton and Novena), making them the most popular spots on the island
- 71% plan to buy at a budget of at least $750,000
Which camp are you in?
More information on the Survey can be found here: