Prices of residential properties may have fallen over the past few months, but they are still too expensive and buyers are increasingly waiting on the sidelines for prices to drop further, a survey has showed.
Nearly a quarter, or 22%, of respondents do not plan to purchase
property at the moment, up from 10% six months ago, showed a half-yearly Asia
Property Market Sentiment Report by real estate portal iProperty.com. Some of
the reasons cited include high prices and the challenge of the down payment.
“Buyers are biding their time, with affordability and financing
as top concerns. While the number of respondents who intend to purchase within
the next 24 months remains the same at 51%, buyers may wait for new and resale
private condo prices to fall … The market is now correcting after the rapid
rise over the last few years, and demand is there at the right price point,”
said Mr Sean Tan, general manager of iProperty.com Singapore.
Several rounds of cooling measures have seen the value of both
private and public properties fall. In the second quarter of this year, private
home prices were about 3% off the peak in the third quarter of 2013, while
public resale home prices were down 5% from its peak in the second quarter of
last year, data by the Urban Redevelopment Authority and Housing and
Development Board showed.
A majority of the survey respondents, or 53%, think that both
new and resale private condominiums will see further price declines this year.
Against that backdrop, the survey saw a 15 percentage point increase in the
number of home owners who want to sell their properties, compared with six
months ago.
“The report shows that both property sellers and buyers are
nervous a year after the start of the Total Debt Servicing Ratio (TDSR). In the
second half of 2013 report, just after the TDSR was announced, 59% of owners
were confident their properties would retain its value; now only 38% think so,
a decline of 21 percentage points. Another 25% are unsure if the value will be
retained,” said Mr Tan.
The survey, which polled 2,805
respondents in Singapore
Source:
CNA
Click on link below to read
the full report....all 140 pages of it. For those who are only
interested in the Singapore
5 comments:
Singapore private property prices are still high. No corrections can really be seen. Applicable for both new and resale mkts.
Singapore private property market is quite scorching currently. Virtually no corrections might be seen. Appropriate for both fresh along with second-hand mkts.
Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us (creditloan11@gmail.com)
I will recommend anyone looking for Business loan to Le_Meridian they helped me with Four Million USD loan to startup my Quilting business and it's was fast When obtaining a loan from them it was surprising at how easy they were to work with. They can finance up to the amount of $500,000,000.000 (Five Hundred Million Dollars) in any region of the world as long as there 1.9% ROI can be guaranteed on the projects.The process was fast and secure. It was definitely a positive experience.Avoid scammers on here and contact Le_Meridian Funding Service On. lfdsloans@lemeridianfds.com / lfdsloans@outlook.com. WhatsApp...+ 19893943740. if you looking for business loan.
Post a Comment