Singapore is 2nd Most Affordable Among Major Housing Markets

Below is an interesting article from The Business Times about International Housing Affordability Survey 2017 : Housing Affordability Survey 2017
  Singapore is an international city, and – We have first-world city planning, security, strong economy, strong currency. – Singapore property market is appealing to foreigners and residents alike, due to scarcity of its land supply. – We have been a strong magnet for skill workforce and investment funds. – With Singapore Government’s clockwork administration and foresight, via the various cooling and financial measures, we have effectively crafted a soft landing in the property market, which is now poised to gain steady going forward into 2018. After declining gradually for 4 years, our properties in general are now about at the very same price level as what they were 5 years ago. This is even in spite of healthy GDP and household earnings development over these few years. Consequently, the real estate market has become more budget-friendly now compare to other countries whereby it is identified as the second most budget-friendly according to Urban Land Institute and PwC’s survey while many others continued to see their property prices gaining higher. This has actually transformed Singapore into a lot more attractive destination for buying homes and other properties in comparison to other countries. – The ample standby liquidity will assist to prop up Singapore’s real estate market and will assist to support rising price level over the coming years. – The private home market is also under supplied over the next 3 years in terms of new homes completion, and our unsold new home stocks are at its multiple years low level. Now may be the time to buy Singapore new property.