NEW FREEHOLD 2 Bedroom Condo below 1 million in Singapore
Last Updated 21 Jan 2018
Last year in 2017, private residential home prices recorded a price increase of 1%1 after falling a total of 10.7%2 in 3 years from 2014 to 2016. Prices has been increasing steadily since the 3rd Quarter of last year due to the pent-up demand from buyers and investors waiting on the sidelines over the last few years. In addition, with the slew of property owners flushed with cash from their En Bloc collective sales looking for immediate replacement homes and investment properties, the general consensus is that the property prices will increase this year in 2018. The only point of contention is how much will prices increase.
According to a report in The Straits Times dated 10 Jan 2018, private home prices may rise as much as 10%3 this year, according to analysts at Credit Suisse, while Morgan Stanley and OCBC Investment Research expect as much as an 8%3 increase. OCBC said new home sales could hit an estimated 12,000 to 15,000 units in 2018 while rental prices could climb between 5% and 10%3 this year.
In the light of this market outlook, home buyers and investors looking to invest in NEW FREEHOLD 2 Bedroom condo and have a budget of below $1 million are finding it increasingly difficult to find units in the market. When these units become available, they are being snapped up quickly by the more discerning buyers and investors.
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1The Straits Times, 2 Jan 2018
2The Straits Times, 17 Jan 2017
3The Straits Times, 10 Jan 2018
About Property Investors
Property Investors is a blog by a group of property investment consultants from Huttons Asia Pte Ltd. This blog aims to provide property investors and home buyers with relevant information to help them make the most informed decision in purchasing their properties, both in Singapore as well as in overseas.