How has Singapore Property Market been performing? Is it in a bubble territory or is it at fair value? Where does it stand among the world’s ultra wealthy for their property investments?
Every year, UBS publishes the GLOBAL REAL ESTATE BUBBLE INDEX, and the most recent edition shows several key markets in bubble territory. They are Toronto, Stockholm, Munich, Vancouver, Sydney, London, Hong Kong, and Amsterdam. Prices in those cities have risen by more than 10%, which according to the bank is not sustainable. SINGAPORE, together with Boston, New York, and Milan, however are at fair value. In fact, in the last year or even the last 5 years, Singapore home prices did not rise (see chart below on singapore property market cycle). For more details, click the headline above.
Singapore Property Market Cycle (1990 - 2Q2017)
Singapore took the fifth spot in terms of the favoured destination for property investments among the world’s ultra wealthy based on the overall global ranking published in the Wealth Report 2018 by Knight Frank. Among Asian investors, it is the third most favoured country. Singapore also ranked fifth spot for the ranking of cities that matter most to the ultra wealthy. For more details, click the headline above.
Home purchased by non-Singaporeans rose 63% in 2017, thanks to market recovery. JLL research national director Ong Teck Hui said Singapore is currently more attractive compared with other global markets. “The Singapore private residential market is in the early stages of recovery, promising a longer run in price upside. Melbourne, Sydney, Hong Kong and Tokyo are at the upper end or near the peak of their market cycles, whilst the prime London market is in decline,” he said. For more details, click the headline above.
