Foreign interest is returning to Singapore property residential market

[newsgprop]

Foreign demand is expected to return to the Singapore residential property market this year, Bank of Singapore (BOS) believes. This is backed by the prospects of a price recovery and better leasing environment, as well as the fact that home prices have fallen to a sweet spot after four years of decline to render the market more affordable compared to other global cities.

BOS head of strategy Eli Lee said in a report last Friday that the recent bullishness in the housing market has so far been largely driven by domestic buyers. But he expects foreign buyers seeking relative value to return and kick the upturn into higher gear, particularly in the prime residential segment.

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This may increase the rate of the property. It is a very good for the Singaporeans. It looking foreign buyers are seeking profit.

[newsgprop]

Transaction values also soared 46%, driven mainly by the secondary market.
This chart from DBS Equity Research shows that 2M2018, unit sales (primary and secondary sales) jumped by 14% YoY to around 3,200 units. Moreover, transaction values were significantly higher by 46%, driven mainly by the secondary market.
DBS analyst Derek Tan noted that Singapore is approaching the traditional peak period for property transactions in the coming months, which around 55%-60% transacted between April to September in any given year. “Given the positive sales momentum, we believe that there is a high chance that transaction values this year will exceed our estimate (+10% YoY),” he said.
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