Singaporeans have been very vocal recently about property prices in Singapore. In fact, property prices have sky rocketed in recent years after the recovery from the US financial crisis of 2008. In fact, property prices have increased too much that it is pricing out many first time buyers from the current market. With cheap financing available throughout the world today, really are a few huge inflow of funds into the Singapore Property Market in Singapore.
Singapore is an Investment Haven
Singapore is one of the easiest countries in the world to conduct sales. On top of this, it is a rustic which places focus law and design. There are also strict laws in place to protect buyers and investors. A country which places concentrate on protecting investors usually attract investments. For property investment, several heavy restrictions guard people’s money in the 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 people the small city state of Singapore by 2030. Currently, there is not enough housing in Singapore due to the sudden influx people into Singapore a past two very long time. How about in 17 years time? With so much increase purchased for housing, and limited land in Singapore, the property market in Singapore is set in order to become red hot by 2030.
Should one expend on Singapore Property?
In Singapore, no more 15% of properties are private households. This means there are 85% of this market that foreigners will not be able to buy. Private properties in this particular case refers to apartments, condominums and landed properties. To be able to the basic economic terms, if nevertheless limited supply of non-public properties for investment and with cheap financing providing liquidity for strong demand, property prices almost all set to head up north. Along with projected population set to rise to 6.9 million, the increase of property prices in Singapore isn’t finished. There stays room for advance.
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 can hotly contested. While economic factors will affect property prices in the short term,. in the long run, jade scape demand and present will dictate how the property market will move. Right now, it looks like demand will outstrip supply.