Singaporeans have been very vocal recently about property prices in Singapore. In fact, property prices have sky rocketed in the past few years after the recovery contrary to 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 all around the world today, there 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 companies. On top of this, it is a rustic which places concentrate on law and shop for. There are also strict laws in in order to protect buyers and investors. A country which places increased exposure of protecting investors usually 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 seemed to be with a white paper which projects 6.9 million people in the small city state of Singapore by 2030. Currently, there is not enough housing in Singapore due to the sudden influx people into Singapore within past two very long time. How about in 17 years time? With so much increase in demand for housing, and limited land in Singapore, the property market in Singapore is set somewhat red hot by 2030.
Should one pay money for Singapore Property?
In Singapore, only about 15% of properties are private properties. This means there are 85% of the marketplace that foreigners will not be able shop for. Private properties in this case refers to apartments, condominums and landed properties. To be able to the basic economic terms, if is actually limited supply of personal properties for investment and with cheap financing providing liquidity for strong demand, property prices is all set to head up north. One projected population set to rise to six.9 million, the increase of property prices in Singapore isn’t finished. There will still be 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 will be 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 actual way the property market will move. Right now, jade scape it looks like demand will outstrip supply.