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 over US financial crisis of 2008. In fact, property prices have increased much that it is pricing out many first time buyers from the market. With cheap financing available around the world today, there huge inflow of funds into the Singapore Property Market in Singapore.
Singapore is an Investment Haven
Singapore is can buy the easiest countries in the world to conduct business. On top of this, it is a country 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 usually attract investments. For property investment, number of obvious heavy restrictions to safeguard people’s money in the Singapore property showcase.
Demand & Associated with Singapore Property
There are currently 5.1 million people Singapore. In Feb 2013, jade scape singapore came out with a white paper which projects 6.9 million individuals the small city state of Singapore by 2030. Currently, there is inadequate housing in Singapore due to the sudden influx people into Singapore in the 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 for being red hot by 2030.
Should one purchase Singapore Property?
In Singapore, just 15% of properties are private homes. This means there are 85% of the market that foreigners will not be able to order. Private properties in this case refers to apartments, condominums and landed properties. Cord less mouse with the basic economic terms, if as a limited supply of personal properties for investment and with cheap financing providing liquidity for strong demand, property prices almost 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 is not finished. There will still be room for growth.
The property market in Singapore is about to become very competitive. With a projected 6.9 million people on limited land of only 700 square kilometres, the market will be hotly contested. While economic factors will affect property prices in the short term,. in lengthy run, demand and present will dictate any property market will move. Right now, it looks like demand will outstrip supply.