Singaporeans have been very vocal recently about property prices in Singapore. In fact, property prices have sky rocketed in the past several years after the recovery from the US financial crisis of 2008. In fact, property prices have increased much that it is pricing out many first time buyers from the sector. With cheap financing available around the world today, there are huge inflow of funds into the Singapore Property Market in Singapore.
Singapore is an Investment Haven
Singapore is just one of the easiest countries in the world to conduct undertaking. On top of this, it is a rustic which places emphasis on law and order. There are also strict laws in starting point protect buyers and investors. A country which places increased exposure of protecting investors generally attract investments. For property investment, number of obvious heavy restrictions shield people’s money in the Singapore property arena.
Demand & Supply of Singapore Property
There are currently 5.1 million people in Singapore. In Feb 2013, Singapore showed up 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 of people into Singapore in the past two months and months. How about in 17 years time? With so much increase needed for housing, and limited land in Singapore, the property market in Singapore is set for being red hot by 2030.
Should one acquire Singapore Property?
In Singapore, approximately 15% of properties are private households. This means there are 85% of the market that foreigners won’t be able to order. Private properties in this particular case refers to apartments, jade scape 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 is all set to head up north. With the projected population set to rise in order to six.9 million, the increase of property prices in Singapore isn’t finished. There for being room for financial growth.
The property market in Singapore is placed to become very competitive. With a projected 6.9 million people on limited land of only 700 square kilometres, the market is actually going to hotly contested. While economic factors will affect property prices in the short term,. in the long run, demand and present will dictate the particular property market will move. Right now, it looks like demand will outstrip supply.