The property market is most interesting at the moment. Last month, real estate experts were taken unawares by yet another round of government-imposed market cooling measures. The government knows it’s crucial to keep prices from running away from the fundamentals and forming a bubble in a time of low interest rates and high liquidity.
Sean Tan, General Manager of iProperty Singapore, commented that a recent survey shows that the new measures are making residential property buyers more cautious. A large number are deferring their purchase for up to two years. He also expects property sales to dip slightly but prices will continue to rise, or at best, remain flat in 2013.
It remains to be seen whether the many new builds coming on the market in 2014 and 2015 will create an oversupply. The Singapore government intends to increase the population in the coming years so long-term demand is there.
A more in-depth report with insights from iProperty, Knight Frank and Accenture Real Estate Asset Group can be seen on our website, www.expatrealtor.net.