Singapore’s housing market most affordable of any major developed city in the world

Singapore’s housing market is likely one of the most affordable of any major developed city in the world, said a recent research by JLL. The report which said that Singapore’s housing market is leading the pack among the global housing market and added that there seems to be limited downside risk to investing in the Singapore residential market now, whether for owner occupation or long term investment.

“Governments around the world have recently responded to escalating home prices by introducing measures to reduce demand and curb price escalation. Home prices have started to fall in some markets but aligning home prices to incomes could take a number of years. In our view, it is likely that governments will keep in place the measures they have introduced for some time to come. Rising interest rates will also have a place to play in cooling price escalation as borrowing becomes more expensive.

This policy stance, together with a very sound and successful affordable public housing policy, has made Singapore’s housing market likely one of the most affordable of any major developed city in the world, it added. The JLL report said that investors in Singapore’s housing market should consider the following factors:

• Stable returns expected: The government is likely to continue to manage prices to ensure they track income growth of 3-4% annually. While relatively modest, this is a stable return. In the last 20 years, both residential prices and household incomes have grown by 3-4% CAGR.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coliving market has potential for growth in Singapore, JLL ResearchThe JLL research paper on coliving in Singapore said more players in Singapore could move into the owner-operator model soon following JTC Corporation’s move to put up a pilot Concept and Price Tender to build, own and operate a co-living development...
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore housing market ranked 2nd most expensive in the worldThe Singapore housing market maintains its second place, averaging US$874,372 (US$1,063 per sq ft), and Shanghai is third at US$872,555 (US$714 per sq ft).
Source: IndependentSG - 🏆 2. / 72 Read more »

Singapore is world’s second-most expensive housing market: CBRE report
Source: TODAYonline - 🏆 1. / 99 Read more »

Singapore remains world's 2nd priciest private property market: CBRESINGAPORE remains the world's second-most expensive housing market after Hong Kong, according to an annual CBRE report which compares private residential property markets across 35 cities. But average price growth was significantly slower, at just 1.1 per cent. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »