Growing Optimism over Singapore Property Market


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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:

https://www.propertyguru.com.sg/property-management-news/2018/2/169498/buyer-optimism-returning-to-the-singapore-residential-market

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