PRIVATE PROPERTY DEMAND TO REMAIN HIGH DESPITE GLOBAL SLOWDOWN
Demand for private property in the country will remain high amid the turmoil in the stock market and the economic concerns in the
and United States Europe, according to an article by TODAYonline.
Experts noted that demand for private properties will be further enhanced by the demand in the public housing market, causing more Housing and Development Board (HDB) upgraders to move into the private property segment.
Although some had expected property investors to pull out, they have remained active in supporting competitively priced projects, predominantly located in the suburbs. Donald Han, Vice Chairman at Cushman & Wakefield, said the strength of the property market should not be ignored as events in
Europe and the have resulted in a low-interest rate environment in the country. US
The article noted that HDB upgraders are attracted to executive condominiums (ECs) and private homes in townships and suburbs, due to the inflation of HDB asset prices and the desire to acquire private properties. Demand for high-end properties in central areas has steadily increased, contrary to the belief that sentiment in the broad market is weak, as suggested by some sceptical investors.
Info courtesy - PropertyGuru.com.sg