66% OF SINGAPOREANS
SAY PROPERTIES ARE ‘Value For Money’
April 23, 2019
Despite perceived high prices, 66 percent of Singaporeans
still consider property within the city-state to be good ‘value for money’.
Despite the perceived high prices, many Singaporeans
remain positive of the local property market, findings from the latest
PropertyGuru Consumer Sentiment Survey showed.
This comes as 41 percent of respondents said they were
satisfied with Singapore ’s
real estate climate.
With this, the Sentiment Index increased to 45 points
during the second half of 2018 from 39 in the first half of 2018. The index
measures current real estate satisfaction, real estate climate, affordability,
interest rate situation, property prices and perceived government efforts.
And while 88 percent of respondents believe that property
prices are high and 72 percent expect prices to increase over the next six
months, 66 percent still consider property within the city-state as not only
affordable but also good ‘value for money’.
In fact, 64 percent were able to acquire a home at current
prices and within their current incomes, while 27 percent intend to purchase a
home in the following year.
“With prices in the private property market starting to
see declines from cooling measures, and the HDB resale market remaining flat,
buyers are likely to consider entering the market in 2019,” said Jeremy
Williams, chief business officer of PropertyGuru Group.
“Furthermore, with at least 40 new launches expected to
hit the market this year, private property buyers will have plenty of options
to choose from. Despite macroeconomic uncertainties, we see from our sentiment
survey that there remains a firm belief in the long-term potential of Singapore ’s
property market.”
The survey also showed increased intention among
respondents to buy a condominium (by 22 percent), mixed-use development (by 32
percent) and landed property (20 percent) within the next six months.
For those looking to upgrade to private property, positive
perception increased the highest for executive condominiums (ECs) at six
percent.
Meanwhile, the survey also noted a growing trend among
millennials of moving out of their parents’ homes earlier.
At least 24 percent of respondents who moved out of their
family homes were 27 years of age and below.
Info Courtesy - Property
Guru
