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Upcoming Trends Surrounding Singapore’s Real Estate Market in 2015
The moderate marketability of Singapore real estate market has been visible in the past year-2014. Nonetheless, Singapore did its share in revolutionising national property marketability at this side of Asia. The upcoming trends surrounding Singapore’s real estate market in 2015 have stirred hopes and expectations. Many national property sellers, buyers and other designated industry entities are keeping their fingers crossed for real estate luck in 2015.
Property Values Will Dip; But Not to Their Severities
In 2015, Singapore’s property values are seen as emanating continuous moderate progress to surprisingly plunging in the market. Real estate specialists caution, though, that value decreases will not reach their severities.
In an article in CNBC, it was revealed that Yvonne Voon, a Credit Suisse analyst, saw Singapore property marketability in 2015 in the following light:
“Next year is not only Singapore’s 50th Independence celebration but also potentially an election year,”
“As such, the government will work to ensure prices do not rise or ‘crash meaningfully’ by keeping property cooling measures intact and fine tuning them if necessary.”
Profitability at stake for Singapore property market developers and sellers, thus, is projected to be on the safe side. The local government’s wisdom and effort are going to make this upcoming real estate market trend possible.
A 5-10% Property Value Decline Likely
A likely 5-10% Singapore property market value decline in 2015 is in the horizon. This trend is likely materialising this year because of projected low property lease and investment frequencies.
Yvonne Voon projected this other real estate trend in Singapore, as stated in an article in CNBC:
“Declines may be steeper especially the larger units (those with over three bedrooms), but partly offset by stronger demand for the smaller units.”
Mass Property Prices Will Remain Relatively the Same this Year
Mass property prices will stay relatively the same this year. Analyst, Yvonne Voon projected that:
“the projects with better offerings (such as close proximity to MRT stations) to experience more resilient pricing levels (potentially up 5-10 percent) while less attractive projects may see some pressure from relatively poor demand.”
Additional Residential Properties will be Up for Occupancy
A Singapore property market projection concluded that 50, 300 residential estates will be available in the country in 2015, according to an article in CNBC. These properties are keys to the availability of more housing opportunities all over this Southeast Asian island/city.
Luck is up for property investors and tenants in Singapore in 2015. These bright real estate trends pave the way for a better tomorrow to come along in the region this year.