A survey has indicated that Singapore has lost some investor’s property confidence in terms of investment appeal. The survey sees Singapore property confidence dropped from 4th place to 9th place. The survey is published by Urban Land Institutue (ULI) as well as PricewaterhouseCoopers LLP (PwC).
Property Confidence Drops
Although the survey indicated that rankings has dropped, Singapore continues to remain a desirable market in Asia due to the robust economy as well as the stable government which places great emphasis on community. This is in accordance to a survey done on 250 real estate professionals.
It is noted that it has been a long time since 2007 since the republic has lost its ranking in property confidence. Changing market conditions have cost the indicative measures to change resulting in the drop in rankings. On one hand, real estate in Singapore is getting more expensive and can get more expensive due to the increase in interest rates. On the other hand, low vacancy rates in Singapore real estate can result in good returns as indicated. Singapore has more room to grow has it is perceived as an attractive fanatical centre because of its locations.
Confidence in Property Drops
However, in Singapore, there is a great drop in confidence, with only 11.1 percent saying that they are now looking to buy a property compared to 30 percent a year ago.
The Hillford Condo at Jalan Jurong Kechil might see a change in property confidence as it is the first retirement village in Singapore and quantum of the units is also low.