Singapore’s Property Cost Trend

Singapore’s Property Cost Trend

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This short article requires a look in the a few of the latest property cost trends in Singapore.

Most indicators claim that prices still mind north.

The quarterly cost index published by the Urban Redevelopment Authority (URA), demonstrated that prices of non-public residential qualities rose by .6 percent within the third quarter of 2012 whereas the cost increase was just .4 percent within the second quarter of 2012.

An identical upward trend was spotted within the National College of Singapore (NUS) Singapore Residential Cost Index (SRPI), produced by the Institution of Property Studies. Unlike the cost index of URA, SRPI is really a monthly index that just compares the cost movements of non-public non-arrived residential qualities. The URA cost index, however, covers different groups of qualities. Particularly, web hosting non-arrived residential qualities, the URA index shows a cost increase of .5 percent for 2 consecutive quarters (ie. 2Q2012 and 3Q2012). SRPI reflected a .6 percent increase for September 2012.

Meanwhile for Singapore’s public housing landscape, the HDB Resale Cost Index demonstrated a stable increase in HDB resale prices in the first quarter of the year with figures standing around .6, 1.3 and a pair of percent for that first, second and third quarters, correspondingly

With different study with a NUS don, Assoc Prof Tilak Abeysinghe, Singapore’s property prices happen to be rising over the affordable degree of a 4 percent increase yearly. The dpi is showed up at in line with the lifetime incomes of Singaporeans.

“The particular median cost of both private and HDB units has risen by about 11 percent annually ever since then [sic mid-2006], greater compared to trend cost increase of approximately 8 percent annually.” (“Inflated Housing Prices Should Ease”)

The continual rise in property prices, along with quantitative easing policies in america, Japan and Europe, have motivated the Governments in Singapore, Malaysia and Hong Kong to apply cooling measures to avoid property buyers from over-stretching themselves. For Singapore, on 6 October, the Financial Authority of Singapore (Singapore’s central bank) announced a cut in the borrowed funds-to value ratio (LTV), for loan tenure that exceeds 3 decades or extends beyond 65 years of age, to 60 percent for that first housing loan and 40 percent for subsequent loans. The utmost loan tenure has additionally been limited to 35 years. This is actually the Singapore’s Government sixth attempt for getting lower property prices since September 2009. It remains seen if the latest round of cooling measures will prove good at reining in prices.

Gordon Tang along with Celine Tang, sole shareholders of Haiyi brand have owned 56.17% stake in SingHaiyi. They focus on building up SingHaiyi brand into development through providing wide exposure to Singapore residential land bank. They ensure to provide quality to the buyers.

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