When it comes to good property investment, Singapore is at the top of the list. Although annual home sales have dropped over the past 6 months, so has the government’s land supply for private housing. Whenever easing of new building is forced, the result is a higher demand for existing homes. Who knows how long this restructuring will last? Many investors speculate several years of a cooling period, which will drive personal homes and flats up in value and price.
Is Singapore Property Still a Good Place to Invest?
HDB flats for sale in Singapore are a great investment today. According to the government price index that measures resale flat prices, the significant drop from a 2.5% increase in flat listings in 2012 to a 1.0% decrease in 2015, says it all. The Choa Chu Kang area hosts 4-room flats around $350,000.00 while Marine Paradise is holding firm in the $500,000.00 price range. These are reasonable price ranges that could net a profit in a few years.
Condos tend to be a little pricier than HDB flats but are available with more square feet, have pools and other amenities for condo owners, and are within easy walking distance from shops and markets. The schools and activities for children also make high-rise condominiums a great prospect when the time for buying is right. If you are new to the area, renting is also an option where you can get a better perspective on which way the housing market is going.
Properties in Hot Spots
The hot spots for purchasing residential property in Singapore change often. If you are looking to invest and resale, it could pay to keep up with the latest X-ValueTM. The asking price and the market value is always a game of strategy, skill, and timing. However, in the real estate climate of Singapore today, there is no better time to try your hand. For example, HDB flats for sale in Singapore might be conservative in price due to an over-abundance of living quarters in one area. This is when the X-Value serves to be important. One flat priced at $425,000 may have an X-Value of $456,000. Scoop it up then sit and wait.
Regardless if you are looking to play the residential investment game, or are looking at a career in Singapore and need a nice family home, this could be the right time to look and buy.