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 for 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 market place. With cheap financing available around the world today, many 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 companies. On top of this, it is a rustic which places focus law and order. There are also strict laws in place to protect buyers and investors. A country which places increased exposure of protecting investors generally attract investments. For property investment, you will find heavy restrictions defend 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 insufficient housing in Singapore due to the sudden influx individuals who into Singapore regarding past two lots of. 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 to become red hot by 2030.
Should one purchase Singapore Property?
In Singapore, no more 15% of properties are private households. This means there are 85% of market that foreigners will not be able decide to buy. Private properties in this case refers to apartments, condominums and landed properties. To the basic economic terms, if as a 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. That’s not a problem projected population set to rise to.9 million, the increase of property prices in Singapore is not finished. There will still be room for financial growth.
The property market in Singapore is set to become very competitive. With a projected 6.9 million people on limited land of only 700 square kilometres, jade scape the market can hotly contested. While economic factors will affect property prices in the short term,. in extended run, demand and provide will dictate the actual way the property market will move. Right now, it looks like demand will outstrip supply.