Medini – Work, Play, Live

MediniFinanceDistrict

The flagship development of Iskandar, Medini offers a compelling proposition as a place for business, lifestyle and living. Within 908 hectares of prime land in the heart of this rapidly growing area, it offers an urban development in complete harmony with its natural setting. Most importantly, it serves up a treat of factors on its menu for buyers looking for a second home, or a place with attractive potential yield for investment.

Location

Strategically located between Singapore and Kuala Lumpur, right in the heart of the Iskandar Regional Development and connected via Tuas, it is a mere 20 minutes from Johor Bahru and 40 minutes from Singapore’s Central Business District. For the frequent traveller, you will be pleased to know that the Senai Airport lies just 25 minutes while Singapore’s Changi International Airport is 50 minutes away.

Infrastructure

In aspiring to be a choice destination for investment in Asia, Medini has been designed with world-class infrastructure connecting Singapore, Asia and the rest of the world via well connected rail, rapid transit system, highways, sea ports and international airports.

It also comes full equipped with an integrated infrastructure with high-quality education, healthcare and other amenities with high speed broadband and telecommunication links to support a pro-business environment.

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In addition, the 300-bed, state-of-the-art Gleneagles Medini hospital is well on track to begin operations by second half of 2015. Equipped with cutting-edge medical technology and top notch healthcare professionals that have become synonymous with the brand, the tertiary hospital will further boost the attractiveness of Iskandar as a healthcare destination, easily accessible to patients from all across Malaysia and medical travellers from around the region.

Pro-Business

Offering a similarly high standard of living to cities like Singapore and Hong Kong when fully realised, Medini offers attractive cost advantages for businesses to operate and grow. Fully supported by the Malaysian government, this economic development region offers up a pro-business environment with a ready pool of English-speaking and educated workforce. Goldbury Communications, a home-grown IT automotive consultancy firm and Huawei, a leading global ICT solutions provider, are just two of the many companies who have since set up offices in this leading economic growth corridor.

Another of a key target business cluster is the ecosystem for the creative and media sectors, Media @ Medini. This initiative facilitates a ‘blended solution’ concept which can provide the full media value chain from script to final production, by potentially linking complimentary service offerings of Media @ Medini, with Pinewood Studios Malaysia, and Mediapolis Singapore.

Residential

As Singapore’s closest neighbour and easily the second most developed country just behind us, the close cultural and similarities in food and lifestyle makes Malaysia an attractive overseas property investment. Though the average property prices have increased, the real estate prices in Medini is still lower than similar properties in Kuala Lumpur, and Singapore, providing a much more attractive option for a second home or as a property investment. Of course, the favourable exchange rates, the Rapid Transit System (RTS) between Johor Bahru city and Singapore’s Thomson MRT line, and the High Speed Rail linking Kuala Lumpur, Iskandar and Singapore further add to the cause for purchasing homes in Iskandar Malaysia.

There are five economic zones, with Zone B, Nusajaya proving to be the most popular with the property investors thus far. With complete township planning that includes specialized security forces and facilities, and quality living conditions, Nusajaya is one of the zone with one of the highest build standards too.

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Paradiso Nuova, which is located 10 minutes away from Singapore’s second link, is an affordable yet high-end quality development for home buyers and investors that offers easy ownership package with all international lots and, most importantly, exempted from the RM1 million threshold for foreigners.

Lifestyle

All work and no play makes for a dull week, luckily for residents of Medini, there are plenty of options in Iskandar for them to play, relax and unwind after a long day or during the weekends. Apart from the first LegoLand in Asia, Legoland Malaysia, there is also the Puteri Harbour Family Theme Park that also houses the first Hello Kitty Town outside Japan that will be perfect for the family.

For the shoppers, remember to visit the 175,000 square feet Johor Premium Outlets that offers impressive savings of up to 65% off more than 80 designer and high fashion brands. Unwind at the end of the day with an evening spent at the Puteri Habour, which will offer exceptional waterfront living, dining, entertainment, and arts and culture in a picturesque setting.

To find out & experience a better way of living, beyond luxury living, sign up for our iBonus Property Fieldtrip to Paradiso Nuova by Zhuoyuan Iskandar on 11th April 2015 here.

This article has been brought to you by Zhouyuan Iskandar.

 

Property Sales in Singapore Drop Considerably

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Singapore home sales in February slumped to a considerable 48 percent lower when compared to the same month a year ago, as a result of lending curbs which have dramatically stemmed property purchases. New figures released by the Urban Redevelopment Authority [1] found that developers across Singapore sold just 382 units in February 2015, whilst they sold a considerably higher figure of 732 property units in February 2014. It is forecast that the remainder of 2015 will also see dramatically reduced numbers of property sales, as  property restrictions make purchasing a home almost impossible for many. The curbs placed on property sales by the Singapore government is the main reason for this relatively sudden and dramatic drop in the number of properties being sold. [2]

The Reasons For The Slump

The government are having the finger of responsibility pointed squarely at them, as the property market in Singapore began to slump in 2009 when they began to introduce curbs and tight restrictions of residential property purchases.  In 2009 a combination of low interest rates and high demand for property from foreign buyers and investors raised internal concerns that the property market was overheating. In the five years between 2009 and 2013, property prices surged by 40 percent, resulting in record property prices. This prompted the government to introduce some of the strictest measures and restrictions on lenders ever known. These measures included a cap on debt repayment costs that was set at 60 percent of the borrower’s monthly income, much higher stamp duties which are paid to the government on home purchases and also an increase in real estate taxes.[3] Whilst these caps, increased taxes and other limitations are no deterrent to the super-wealthy keen to own property in the metropolis, they will make it difficult for those on low or average incomes, or affected by other factors that may make them appear less attractive to a mortgage company or other lender. [4]

The Effect on The Property Market

These new restrictions aren’t only affecting individuals looking to get on the property market: they are also having an impact on property developers and the overall property market. Developers have made the decision to scale back on their new launches and reduce the numbers of properties that are being build, with just 357 new units launched February, down from the 415 new units launched in January, and down considerably when compared with the number of launches in previous years too. The property market in Singapore is definitely on the slowdown, as a result of the restrictions the government put in place to prevent it from burning out:  Two condominiums which were built last summer were ultimately sold for less than half their original price, while other newly built properties sit empty.[5] The cooling measures introduced by the government seem to have hit the high end property market particularly badly.

But there is an upside, for those potential homebuyers who meet the government guidelines for purchasing a property and don’t have a problem securing the funds they need. [6] Especially if you’re looking to purchase a high end luxury property. For home buyers in Singapore right now, there is a wealth of choice available, and no real need to compromise: you’re sure to find the perfect property that meets all of your specific needs, and you’re likely to find it easy to negotiate the price and other perks that you want too. It really is a buyers’ market. Why not see what you can get with your money today? You’re sure to be pleasantly surprised.

Further resources

[1] “Singapore February Home Sales Drop 48 Percent on curbs”, Bloomberghttp://www.bloomberg.com/news/articles/2015-03-16/singapore-february-home-sales-drop-48-percent-on-property-curbs

[2] “Monthly home sales in Singapore dive 48 percent”, The Malay Mail Online, http://www.themalaymailonline.com/money/article/monthly-home-sales-in-singapore-dive-48pc-on-property-curbs

[3] “Singapore private home sales up in February, but EC deals slide”, Channel News Asiahttp://www.channelnewsasia.com/news/singapore/singapore-private-home/1718152.html

[4] “Guide for securing a mortgage home loan with a disability, Mortgage Calculatorhttp://www.mortgagecalculator.biz/resources/disabilities.php

[5] “A high end property collapse in Singapore” CNBChttp://www.cnbc.com/id/102437343#.

[6] “Singapore based regional property developers are facing rising threats”, The Motley Fool Singapore, http://www.fool.sg/2015/03/16/singapore-based-regional-property-developers-are-facing-rising-threats/

Guest Article from Gemma Hollis

Seri Austin – Comfortable, Functional & Livable Sanctuary

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First township Role Model in Iskandar Malaysia? Check. Recognized as ‘The Most Livable, Modern Residential Enclave’? Check. A tranquil and peaceful abode, away from the hustle and bustle of the fast-paced city life? Definitely.

Situated just a mere 12-minute drive away after the Malaysia-Singapore Causeway with the Second Link Causeway 30 minutes away, the Seri Austin residential enclave is the ticket to an exclusive sanctuary, close to Singapore. This township located in the southern corridor of Iskandar Malaysia showcases some of Johor’s best premium properties, within 500 acres of freehold land.

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Set against a backdrop of lush green landscape, outdoor activity zones and parks, and comprehensive, healthy lifestyle facilities are a huge assortment of terrace homes, cluster homes, semi-detached villas and luxury apartments. Targeting working professionals, foreign buyers, expatriates and investors who are looking for a wholesome environment suitable for young families, the Seri Austin township offers all of these and more.

More than just a show pony, the Seri Austin township also emphasizes heavily on the healthy and lifestyle elements, incorporating outdoor activity zones, extreme sports centre, smoke-free parks and even sports and health stores. With the scenic lakes and greenery surrounding the township, the bicycle lanes that integrate with the existing roads are made more attractive and further promotes healthy living for its residents.

In addition to the greenery and health activities, they also understand the needs of its residents, especially with a growing young population of from 25 to 35 years of age, with the units all outfitted with fiber optic cables and high speed broadband (HSBB) ready, allowing residents to enjoy a smooth and fast connection, be it for work or play.

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Some of the latest gems to be launched includes the Jade @ Seri Austin, freehold terrace homes which comes in four different designs and cater to a wide variety of discerning homebuyers. They will also be launching the latest stratified component in the township, D’Lagoon, featuring contemporary and stylish modern concept homes in three designs. Designed as a low density development, these luxury apartments will come complete with high ceilings, wide balcony and move-in-ready kitchens. Residents will also be well served by the upcoming Zircon, the premier modern corporate facilities with convenient accessibility and abundance catchments in the heart of Iskandar Malaysia.

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Amenities around the township also includes the two 18-hole golf and country resorts for golf enthusiasts while colleges such as Sunway International College and KFCH International College, and two international schools Fairview International School and Austin Heights International School, are in close proximity. Just a minutes’ drive away lies also The Sultan Ismail Hospital, the AEON shopping mall, Tesco and Giant hypermarkets for the convenience of the residents.

Developed by award winning developer, Dynasty View Sdn Bhd (a wholly-owned subsidiary of UMLand Berhad), the Group fully embraces the wholesome lifestyle concept of building innovative homes of quality design and affordable pricing, resulting in a living community that is both functional and livable. Coupled together with the excellent location, the greenery and other community initiatives and facilities, the Seri Austin development offers high quality value to the residents and investors.

Don’t forget to sign up for the iBonus PROPERTY DAYTRIP to Seri Austin on 28th March 2015, where you will get to enjoy a day of luxurious living by the park in Seri Austin, and enjoy exclusive iBonus discounts and perks to  make Seri Austin your dream home.

iProperty H2 2014 Survey: Sellers Up, Buyers Down

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Owners keen to sell while buyers expect price declines; HDB confidence rises.

The latest iProperty Asia Property Market Sentiment Report H2 2014, Asia’s largest consumer property sentiment survey, shows a significant shift in Singapore sentiment, with more wanting to sell (from one per cent to 16 per cent) and fewer wanting to buy now (from 22 per cent to ten per cent) as prices head lower. More respondents also expect new and resale private condominium prices will continue to decline (up from 34 per cent to 53 per cent), but are more confident about HDB values.

“The H2 2014 report shows that both property sellers and buyers are nervous a year after the start of the Total Debt Servicing Ratio (TDSR). In the H2 2013 APMSR report, just after the TDSR was announced, 59 per cent of owners were confident their property would retain its value; now only 38 per cent think so, a decline of 21 per cent.  Another 25 per cent are unsure if the value will be retained,” commented Mr. Sean Tan, iProperty.com Singapore General Manager.

“Buyers are biding their time, with affordability and financing as top concerns. While the number of respondents who intend to purchase within the next 24 months remains the same at 51 per cent, buyers may wait for new and resale private condo prices to fall,” said Mr. Tan.

Developers are already responding to the more cautious market, delaying new project launches and lowering launch prices, among other strategies. According to the Urban Redevelopment Authority (URA), developer launches decreased from 441 to 351 private homes last month. Median prices between Q1 2013 and Q2 2014 declined three per cent for completed projects, while declining eight per cent for uncompleted projects.

Singaporeans do however continue to view property as a good investment, stating rental income (34 per cent) and long-term investment (29 per cent) as the top reasons. Home ownership was at 23 per cent. Private condominiums (57 per cent) continue to be the top choice, with terrace houses at 25 per cent and HDBs at 23 per cent. Survey respondents chose price, location and potential ROI as the top three factors when purchasing properties.

“Singaporeans are confident about property and have the money. 17 per cent of respondents have identified budgets above $1 million; 61 per cent have budgeted between $500,000 and $1 million; and 18 per cent have less than a $500,000 budget. The market is now correcting after the rapid rise over the last few years ago, and demand is there at the right price point,” concluded Mr Tan.

Mr. Getty Goh, Director at real estate research and consultancy firm Ascendant Assets, noted that buyers are jumping in to purchase properties when prices are within expectation, or if they are in a good location. “Examples include the 91 per cent surge in sales in District 9 and 10 reported by Barclays, and more recently the good sales figures at Highline Residences,” said Mr. Goh.

The Highline Residences in Tiong Bahru, District 3, launched in September, saw a strong sales with 80 per cent of its 160 units launched, following a “special preview discount” that took prices from $2,000 per sq. ft. (psf) to an average of $1,900 psf. District 3 was selected as one of the top three preferred locations in the iProperty H2 2014 survey.

A large number of respondents (45 per cent) indicated lower price per square foot was more important than other incentives, such as furniture vouchers. The next most important criteria (40 per cent) were smaller unit sizes. CIMB has reported that median sizes of homes have fallen from 1,200 sq. ft. to 800 sq. ft., because “most buyers compromised on smaller units in order to keep the investment amount more affordable”.

52 per cent say HDB resale prices are not affordable, down from 53 per cent in the previous survey, and from 61 per cent before that. Only 15 per cent say HDB resale prices will continue to fall, down from 37 per cent in the previous survey. This shows pricing levels are becoming more comfortable for buyers.

Overseas Properties Popular For Investment Purposes; Malaysia #1 followed by Australia and the UK

Overseas property continues to appeal for investment, with private condominiums and serviced apartments as the preferred property type. In May 2014, the Monetary Authority of Singapore (MAS) reported that the value of overseas property investments handled by local real estate agencies increased by 43 per cent from S$1.4 billion in 2012 to S$2 billion in 2013. Malaysia accounted for slightly more than half of investments, followed by the United Kingdom and Australia.

Malaysia remains Singaporean’s top investment destination at 31 per cent. Most respondents (40 per cent) are willing to pay less than S$500,000 for overseas properties and the attractive exchange rate of the Malaysian currency against the Singapore dollar continues to draw Singaporeans. Iskandar Malaysia remains a stronghold for investors, with 58 per cent stating investment as a reason for purchase, while citing affordability (54 per cent) and proximity to Singapore (69 per cent) as positives.

Australia sees continued interest (18 per cent, down from 22 per cent) along with the United Kingdom (UK) (12 per cent up from 9 per cent). Australia appeals for its proximity, quality education and lifestyle. The UK draws interest for capital growth, yields and as a place for buyers’ children to live while they study. Recent exchange rate shifts have made investing in both locations more attractive.

Respondents also indicated a preference for seminars and exhibitions when purchasing overseas properties, with 53 per cent having purchased their overseas properties through developer shows/seminars/exhibitions in Singapore.

The APMSR is Asia’s largest consumer sentiment survey, with close to 13,000 respondents from four countries, including 2,805 in Singapore. The survey was conducted by iProperty Group from June to July 2014. For the full report, please refer to http://www.iproperty.com.sg/asia-property-sentiment-survey/download/.

iProperty Survey Shows Pricing Concern Amid Unshaken Confidence in Property

Consumers seek investment, private condominiums and overseas properties

Singapore, 30 April 2014 – The iProperty Asia Property Market Sentiment Report H1 2014 (APMSR), Asia’s largest consumer sentiment survey, reveals Singaporeans’ broad support for cooling measures and expectations of falling prices, while expressing unshaken confidence in property as an investment, both nationally and internationally. It also suggests growing pent-up demand, with private condominiums top of the purchase wish list.

iProperty.com Singapore General Manager, Mr. Sean Tan stated “The cooling measures have begun to lower prices, which respondents recognise and support. Property, in both Singapore and overseas remains a very attractive investment, and confidence in its long-term value is strong. The question now is when will buyers feel comfortable with adjusted prices and jump back in? With 51 per cent intending to buy a property within the next 24 months, there is a lot of pent-up demand.”

Survey respondents agree the implementation of the Additional Buyer’s Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR) have helped cool property prices, but many remain unsatisfied with current price levels. More than half (52 per cent) believe further cooling measures are required.

53 per cent say HDB resale prices are beyond the reach of the average Singaporean family. That is down from 61 per cent in the previous survey. 37 per cent feel HDB resale prices will continue to fall and 49 per cent say prices will not rise for the next three years. This may indicate pricing levels are becoming more comfortable for buyers. If half expect price stability, how long will they wait?

There is a huge jump in respondents who see property as a long-term investment – 53 per cent, up from 23 per cent. 23 per cent also intend to buy a property within the next 12 months, and an additional 28 per cent within the next one to two years. Over two-thirds (67 per cent) have a preference for new developments and more – 71 per cent up from 69 per cent – are interested in purchasing a private condominium.

“Although respondents are concerned with financing options, more than half (51 per cent) have a budget above S$800,000,” noted Mr. Tan, “Some developers are already pricing their projects or lowering prices of previously launched projects to within this range.”

Sentiments towards foreign property buyers remain volatile, with 72 per cent saying foreigners are driving up property prices. 43 per cent of respondents request more ownership restrictions on foreigners. This is despite falling transactions by foreign buyers; only seven per cent of property transactions were made by foreigners in 2013.

Overseas Investment – Malaysia Falls, Australia Rises

Singaporeans continue to view international properties as attractive; 42 per cent see overseas property as a good investment and private condominiums/serviced apartments are preferred by 67 per cent of respondents. 43 per cent of respondents intend to buy an overseas property within the next two years, 26 per cent within the next 12 months.

Interest in overseas property has shifted, with increased interest in Australia (22 per cent up from 19 per cent). Malaysia, which remains the top choice, declined from 39 per cent to 35 per cent. The UK and Thailand were next, each with nine per cent.

Malaysia remains the first choice for international investment, despite the country’s own cooling measures, including restrictions on properties below RM1 million and higher Real Property Gains Tax (RPGT). Interest in Iskandar Malaysia has declined to 51 per cent (down from 59 per cent), but the area remains appealing, as most high-end properties are above the RM1 million level. Even with those restrictions, 64 per cent of respondents cite ‘affordable property prices’ as the main reason for purchasing in Iskandar Malaysia. Additionally, Medini Iskandar is exempt from the RM1 million minimum price for foreign purchase.

Respondents continue to view the Iskandar Regional Development Authority positively, with 79 per cent (up 9 per cent) agreeing that Iskandar has been promoted well. Peace of mind and security, followed by lack of caveats and data, remain areas of concern.

“The survey shows consumers retain great confidence in the property sector. Prices are declining, and while buyers are currently hesitating, the appetite for property remains very strong, at both the national and international level. The property market will certainly see a revival in demand; the big question is when. Timing the market is always tough,” said Mr. Getty Goh, Director at real estate research and investment firm Ascendant Assets.

The APMSR is Asia’s largest consumer sentiment survey, with 18,500 respondents from four countries, including some 3,000 in Singapore. The survey was conducted by iProperty Group from December 2013 to January 2014.

Down the full report at http://www.iproperty.com.sg/asia-property-sentiment-survey/download/

iProperty Survey Shows Buyers Cautious, Owners Confident

iProperty.com has launched the Asia’s Biggest Property Sentiment Survey Report and received overwhelming response from consumers and members of the media. The one-of-a-kind survey enables interested parties to gain better perspectives of the property market, current consumer sentiments and how it will affect future property decisions. The findings of the report is featured on media such as Channel NewsAsia, TODAY Newspaper, Yahoo Finance! and many others. Feel free to click on respective media logo below to view their special reports on the iProperty.com Asia Property Market Sentiments Report.

Click on any media logo below to view the respective news report

 

Download your own copy of the Asia Sentiment Consumer Survey Report. To better understand how the Singapore property market has evolved over the past few years, we have collaborated with Ascendant Assets Pte Ltd to analyse the 2013 H1 survey results.

View the special follow-up report by Ascendant Assets to shed light on the implications of the survey results. We hope the iProperty.com Asia Property Market Sentiments Report 2013 is a valuable source of information for you to understand the real estate market. Thank you for supporting us and making this possible.

No better time to Invest in Overseas Property

Simply because if the time is right for you, it is the right time. There are risks, which comes with all types of investment of course, but you can certainly make wise, calculated decisions by attending property seminars, speaking with experienced industry experts and doing your own research.

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With information of overseas property becoming more accessible and detailed, and with online sources available 24-7, information is at your fingertips, literally. Why purchase a property in Asia? It is nearer to home, and also makes a good holiday home option. Depending on the rules and regulations in the country of purchase, properties are cheaper and have more space for growth. And rental yields can be substantial, if you invest in the right property in the right location. Compared to Singapore properties, where home loans and buying curbs are increasingly being implemented, the real estate landscape overseas could be more fertile for short-term investment.

Horizon Hills in Nusajaya, Johor, Malaysia.

Horizon Hills in Nusajaya, Johor, Malaysia.

Malaysian properties are increasingly popular, especially with strong and steady developments at the Iskandar region. Horizon Hills in Nusajaya, Johor,is part of the Iskandar Malaysia development. Movenpick WHite Sands PattayaNear enough to Singapore with properties half the price or less of the same here, with the luxury of the space of your own, landed homes here are easily accessible via the North-South Expressway, Malaysia-Singapore Second Link, Skudai Expressway and the Perling Expressway. Cluster housing within a spacious buy cosy 1,200 acres, it encourages family and community living.

Looking further north into Thailand, beachfront living in the heart of Asia is offered by Apex Development. Situated in Pattaya, the Movenpick White Sands Beach Condotel development provides investors the opportunity to take part in a hotel development by purchasing hotel rooms which they can in turn earn rent on. This development is nearing completion, is targeted to be ready by end 2013.

But if it an urban lifestyle you fancy, Ayala Land, part of the Ayala Corporation in the Philippines is offering up that possibility at your doorstep. A variety of properties under the Ayala Land umbrella will put you in the centre of Makati city, Manila, with conveniences, shopping and much more in the vicnity.

Garden Towers and Escalada Scelod condominiums in the Philippines. Photo by Ayala Land.

Garden Towers and Escala Salcedo condominiums in the Philippines. Photo by Ayala Land.

Still undecided about which to go for, or perhaps you might even be considering a few, the iProperty International Property expo is where you will find all these developers and more, under one roof, presenting collections and properties at the same time. It might just be the best way to do your research, consult with experts, gather various information and compare pros and cons across the board before signing on the dotted line. The exhibition runs from 26 to 28 July at the Marina Bay Sands Expo & Convention Centre and you can pre-register here.

Cooling Measures May Not Be Enough to Dampen Property Fever, Says iProperty

Consumer sentiments report says affordability remains a top concern; tighter restrictions seen to impact sales but not prices.

SINGAPORE, 4 February 2013 – The iProperty Group, owner of Asia’s No. 1 network of property portal sites under the iProperty brand (www.iproperty.com) today released its iProperty.com Asia Property Market Sentiment Report (APMSR) H1 2013, revealing a continuing clamor for Government to heighten the affordability of public housing.

“Singapore property buyers understand that prices will continue to go up, but appreciate the Government stepping in to manage the pace and ensure that public housing will remain within their reach,” said Sean Tan, General Manager of iProperty.com Singapore.

Tan said the seventh round of cooling measures, which was announced on 12 January 2013, just two weeks after the survey was completed, would impact property sales but unlikely to make a dent in terms prices.

“The new measures would certainly make residential property buyers more cautious. In fact, the sentiments report already reflects this trend, with more than half of the consumers surveyed said they may be deferring their purchase much longer to up to two years. I think we can expect property sales to dip slightly as a result of the new measures, but prices will continue to go up, or at best, remain flat in 2013,” he added.

He continued, “However, low interest and high liquidity are expected to keep the property market buoyant, even in the face of tighter restrictions.”

Carried out in four markets – Singapore, Malaysia, Indonesia and Hong Kong with a total of 17,303 respondents, including 2,099 from Singapore, the iProperty sentiments survey aims to provide property investors, buyers, sellers and owners – both locals and expatriates – with insights into the property market from a consumers’ perspective.

In Singapore, rising property prices resurfaced as a top concern, and sentiments lean towards Government taking a more active stance to decelerate the increases.

While respondents seemed to favour stricter market restrictions, a surprising 70% indicated that they were likely to support government moves to allow singles to buy new HDB flats, a reversal of the current rules that limit HDB flat ownership to singles over the age of 35 who purchase on the open market. Changing the rules would allow singles, too, to enjoy the benefits of subsidized public housing.

Key findings include:

  • 64% of the survey respondents felt the current resale prices of HDB flats are not affordable to the average Singaporean family
  • 50% of survey respondents predicted prices will continue to rise over the next three years despite an increased supply of build-to-order (BTO) flats
  • 67% of those surveyed opined that government should take more active steps to cool the market
  • 41% of the respondents felt that the government is not doing enough to ensure sufficient housing is available to foreigners

Overall, the forecast for the Singapore property market in 2013 remains positive, with 55 % of respondents unfazed by fears of a property bubble. Majority of respondents (66%) are confident that their property will retain its value in 2013.

Market Realities

The report also revealed an interesting alignment between consumers’ preferred measures to curb HDB price increases and the government’s approach.

Respondents’ felt HDB prices could be better controlled if the Government were to adopt measures such as, imposing stricter guidelines for permanent residents subletting or selling their HDB flats (45%); putting a cap on resale prices of HDB flats (30%); and putting a levy on subletting HDB flats (25%).

“The issues and proposed solutions that figured prominently were addressed in the latest round of cooling measures. It is a testament to how the study reflects market realities,” Tan added.

To deliver more useful insights to property buyers and sellers, iProperty.com Singapore has partnered with Ascendant Assets Pte Ltd, one of Singapore’s real estate research consultancies, to analyse the sentiments and how the trends have evolved over the past few years.

“In the 2013 survey, about 72% of the respondents indicated that they do not intend to buy a property in the next one year. For consumers, it is not easy to fathom what 72% means.  However, if consumers know that only 38% gave that answer the year before, it would definitely be more telling. We are working with iProperty.com Singapore to identify these underlying trends so that the study can become a truly invaluable tool that consumers can use in deciding when, where and what to buy,” said Getty Goh, Director of Ascendant Assets Pte Ltd.

Download full report at http://www.iproperty.com.sg/asia-property-market-sentiment-report.

 


Asia Property Market Sentiment Report 2013 Winners.

 iPad Mini 16 GB Wifi

Winner: Tan Rui Xiang

Challenger Voucher $200

Winner: Wong Yi Shun

Challenger Gift Voucher$100

Winner: Ong Wan Chin

Consolation Prizes, 20 x  NTUC vouchers

Wong Siew Peng
Jimmy Teo
Wong Teck Yong
Ling Kian Leng
Clara Yong
Melissa Tan
Eric Ng Yong Xiang
Adrian Chee
Alvin Koh
Tan Jie Shi

Amy Yeo Mei Yi
Andy Tan
Elaine Chew Jie Ying
Sharon Ang
Yeo Xuan Xuan
Tong Yi Yang
Nissa Bte Rahman
Winnie Ong Hui Ying
Nurayeesha Aziz
Siti Noraliza

* Winners will be contacted through email within one week of prize announcement.