Actually, there is some resilience in the demand for private property in Singapore among specific groups of buyers, says Senior Director and Head, Knight Frank Research Dr Lee Nai Jia.
SINGAPORE: Since the last property cooling measures rolled out in July 2018, market sentiments have remained subdued.
The new measures have led to higher acquisition costs for buyers and curbed their ability to take out larger loans to purchase private property, so from a theoretical standpoint, one would expect demand to decline together with prices.
However, the impact on price remains to be seen. In the third quarter of 2018, the Residential Property Price Index (which include executive condominiums) continued to increase albeit at a slower pace. Singapore’s private home segment in 2018 rose nearly 8 per cent, compared with 1.1 per cent growth the year before.
Read more at https://www.channelnewsasia.com/news/commentary/singapore-private-property-market-outlook-groups-buyers-11133410
Source: CNA
Credit to Dr Lee Nai Jia is Senior Director and Head of Research at Knight Frank Singapore.