Singaporeans are vocal about the property prices in their country. As a matter of fact, it has been identified that most of these prices have skyrocketed for the past couple of years. This was quite related to the financial crisis which took place in the United States in the year 2008. There was an increase that first-time buyers were quite overwhelmed in the beginning. The cheap financing available all over the world is not a secret to many. As this is the case, it is just right to understand how the real estate market is in Singapore.
Singapore as a Prosperous Investment Place
Many are fond of conducting business in Singapore because it is the easiest place to invest in. Topping this is the fact that this country puts so much emphasis on law and order. This is why it is not shocking why many individuals are not afraid to conduct business here. The country is capable of implementing strict laws which do not fail to protect its investors and buyers. The protection mentioned here is the answer as to why most investors are attracted. There may be heavy restrictions but they are only intended for the protection of people’s money who are part of the property market in Singapore.
The Demand and Supply
As of February 2013, there are already 5.1 million people found in the country. With that figure, Singapore was able to release a white paper which sees 6.9 million people in the same small state come 2030. Today, there might be no adequate housing found in it yet. This transpired because of the influx of people. But that would not be the case all the time. The increase in the demand for housing has become positive. With its limited land, it is projected for the place to be red hot in 2030. Who would not want that?
Should You Invest in Singapore?
Is the toughest question asked now? Please remember that only 15% of properties in the said country are private properties This goes to show that almost 85% of the market is available for foreigners to purchase. These private properties encompass condominiums, apartments and landed properties. To utilize the basic economic terms, property prices are perceived to head up mainly because of the limited supply and cheap financing which is always intended for liquidity.
Since there is a projection that the population will rise to 6.9 million, there will surely be an effect on the prices of property in Singapore too. Economic factors would have a big impact on the prices too. It may be both for short and long-term. The same is also true with the demand and supply which can also dictate the movement of the property market. All of these are seen as a potential for many Singaporean investors out there. Why should it not?
Needless to say, Singapore is bound to have a competitive property market. This is an assurance indeed!…