Property Prices In Singapore

Property prices in Singapore are gradually growing daily because the population is increasing. Singapore is a country that is growing and expanding daily because of the foreigners who are investing in that country. And this is the reason why one cannot get a fixed price for a certain product like buying a HBD flat near the town and if you manage to get it, its so expensive.

Residential houses in Singapore the prices keep on going up daily, but the prices grow at a very slow rate. For the properties which are non-landed their price grows at a very slow pace also. The reason as to why these prices grow at a very slow rate is because, they have been restrained by the government of Singapore to prevent and avoid property bubble within the country.  However for the landed properties the price is growing at a very high rate. There was an effort by the government to stabilize the market but this did not work out very well.

In the year 2005 to 2007 the property prices in Singapore were falling down rapidly the main reason was due to global financial crisis and the economic was growing in a very slow mode. However in 2009 property prices started picking up and they recovered so quickly towards the end of 2009. In 2010 property prices have been rising tremendously and property investors have been enjoying this trend so much. And the fear of property bubble that the government feared disappeared completely and the government started to implement the ant speculative measures so that it could be able to prevent housing bubble from coming up in this year and in the coming years.  

The resources in Singapore are limited. Singapore has the world’s interventionist housing and market policy. The government of Singapore controls and monitors how each and every land is used and how the allocation of housing to the local people and foreigners is normally done. Besides that the government of Singapore also takes part in the planning, construction and housing of all the properties in Singapore. The government of Singapore imposed these anti-speculative measures in Last year February and came up with a plan and how it will increase land supply. In the same year the government of Singapore also put very strong measures about financing the homeownership of flats that was provided by the Housing and Development Board (HDB). All of these measures the government was imposing so that it could control property prices in Singapore from falling down.

Foreigners who invest in Singapore also make the price of the properties to increase. Foreigners prefer to buy and own there own houses so that they can avoid facing escalating rentals especially if they know that they are visiting Singapore often and they are going to be in Singapore for more than one year. 

Mindy Yong 杨雯诗

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Tel: (+65) 91002985
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mindy@mindyyong.com

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