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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[newsgprop]

According to the figures released by Urban Redevelopment Authority (URA) based on its surveys of licensed housing developers. Private homes sold by developer in Jan 2018 up by 37% from a year ago.
Analysts generally termed the January sales as "healthy", especially given that no new private housing or EC projects were launched last month among projects that were still licensed.
"The firm economic outlook for Singapore this year should continue to drive positive sentiment and confidence in the property market," said Ms Tricia Song, head of research for Singapore at Colliers International.
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