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2020-03-11
798
Singapore
The Singapore property market in the coming years will be challenged by a moderately growing economy, coupled with imbalances in demand and supply across various sectors. These factors will continue to add pressure on occupancy and rents. Demand for new residential properties perked up in 2017, with sales rising by 7% to more than 7,900 units from about 7,400 units in 2015. New housing projects in Singapore such as the Clement Canopy and Grandeur Park Residence witnessed healthy sales on their very first weekend of launch. The outlook of an improving property market of Singapore, affordable loans and relatively more inexpensive small apartments have attracted many investors back to real estate.
By Property Type
By Ownership Type
By Investor Type
Based on property type, the residential apartments segment accounted for the largest market share of more than 68% in 2017, but average property prices in SINGAPORE have dropped by 0.8% in the same year. On the other hand, residential apartments are likely to dominate the market in the coming year with more than 8,000 residential building comencements in the country.
According to our Singapore property market study on the basis of extensive primary and secondary research, one major trend in the market is the declining number of foreigners in job which has significantly decreased the property rent costs. According to the Manpower Ministry of Singapore, the number of foreign workers fell by an estimated 2,500 in 2016. There were about 1.15 million foreign workers, excluding maids, in Singapore in 2016. The declining foreign workforce in Singapore is significantly resulting in decking prices of residential rentals.
According to the report, a major driver in the Singapore property market is the lower interest rate for home buyers which have a major impact on the growth of the property market of Singapore. Moreover, the overall prices of a home feel slowest in 2016 as compared to 2014 and 2015. The considerable measure by the government such as Total Debt Servicing Ratio (TDSR), has significantly tamed property demand.
Further, the report states that one challenge in the Singapore property market is the affordability of the property. Even after, declining prices of property in Singapore one cannot easily afford the residential property, which is restraining the potential buyers to buy an apartment or house in the country.
The report covers the present ground scenario and the future growth prospects of the Singapore property market for 2017-2030 along with the total revenue of the real estate sector in every region. We calculated the market size and revenue share on the basis of revenue generated per segment and region on the country level. The revenue forecast is given on the basis of a number of real estate developers and the current growth rate of the market.
Singapore Property Market Outlook 2017-2030, has been prepared based on in-depth market analysis from industry experts. The report covers the competitive landscape and current position of major players in the Singapore property market. The report also includes porter’s five force model, SWOT analysis, company profiling, business strategies of market players and their business models. Singapore property market report also recognizes value chain analysis to understand the cost differentiation to provide a competitive advantage to the existing and new entry players.
Our UAE property market report comprises of the following companies as the key players in the India property market:
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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