One of the main reasons cited by developers, as to why new launch prices are so high, is the price of land. We have an article that covers some of the details here. However, a common criticism we’ve heard from many of you is that you seem to hear this every year; and granted, we’re hard-pressed to find a time.
For Singapore's property market, the writing's on the wall for analysts and realtors alike. In an opinion that managed to surprise exactly zero people, Morgan Stanley has shifted its position on two key developers from overweight and equal weight to underweight. What most people would be more interested in, however, is their prediction that housing prices would likely decline three.
So with property prices being so high of late, agents must be in a great spot, right? While we still have the occasional agent flashing the goods on social media (remember, this is mainly to preen their feathers to build their team), things aren't so rosy on the ground. In fact, it's quite the opposite more agents are seemingly.
The income ceiling for Executive Condos currently stands at $16,000. But there has been discussion lately over whether it's time to raise this income ceiling, along with that of BTO flats. It doesn't surprise us to hear it: amid rising interest rates, high inflation, and fully-private homes getting out of reach, there are real fears that a low-income ceiling would.
While the recent unveiling of eight new GLS sites will undoubtedly provide some relief to soaring property prices, it's essential to temper expectations. While increased land availability can bolster housing supply, and possibly lead to more moderate property prices over the coming years, the story doesn't end there. For those expecting a crash in real estate prices soon, Singapore's real.