Financial Outlook in the Real Estate Market in Singapore coming late 2018

After the downturn between 2014 and 2016, Singapore’s property market seemed to rebound with a promising performance in 2017, and 2018 is showing signs of a continued improvement. The Singaporean government is actively involved in land and property development. For this reason, there is hope that past problems like steeply rising land and housing prices will not come back to haunt Singaporeans.

A balance between Government policies and involvement against private land owners may help avoid situations like market bubbles that hurt both investors and buyers in the long run. There is also improved control of the market while at the same time making housing available to the average Singapore citizen. However, this can have a negative impact in attracting investors.

Financial Outlook

The 2017-2018 rebound does not necessarily need to cause fears for a repeat of the 2010 to 2013 market bubble. An increased demand for housing against a backdrop of economic growth as Singapore seemed to rise out of a time of a global recession may have had a positive impact on the real estate market.

However, the government’s policy changes like stricter lending rules and additional duty on property purchase may impact the financial aspect of the real estate market. This could further affect buyers’ capabilities, thus curbing demand as compared to supply and ultimately impact pricing.

Property Prices

Rising land prices in Singapore have of late raised concerns that there could be a rise in house or home prices. Even though prices have not been going down, still there was a marked increased demand for housing in 2017 and 2018.

One thing that may cast a positive impression on the entire real estate outlook is simply the fact that land owners need buyers. In a competitive market, the land owners will need to keep the prices at an affordable level if they are to get developers interested. This is likely to keep a check on land ultimately on housing.

Market Performance

Government involvement in land and development of housing property in Singapore has served to fuel recovery and control rates in Singapore. Considering that there are thousands of new government-owned units coming up in 2018, there is likely to be a supply-demand balancing effect that will help curb wild rises in valuation.

The current rise in housing price is very low compared to years like 2007, 2009 and 2010 when the prices were rising steeply and causing a major shift in the market. However, with fears of a possible market bubble like has happened before, it could be the best time to buy property in Singapore. This is why newly-constructed housing units like the new condo launch, namely the Affinity at Serangoon condos are still likely to be well received by buyers. Especially buyers looking for a luxurious home with amenities like a home gym, swimming pools, playgrounds et cetera. You can click on this link for more Affinity at Serangoon details: http://affinityatserangoonville.sg.

Conclusion

A balance between an improving economy, demand and a non-volatile market that is more stable than it was five years ago is the situation as it is. Investors, buyers and land owners all hope that this will continue to be the case if the real estate in Singapore is to continue to grow at a rate that will be a profitable rate for all involved parties.

5 Things to know about Affinity at Serangoon

With the property market finally back on track, an Oxley-led consortium is enticing home purchasers with its most recent offering – Affinity at Serangoon.

This new project is located along Serangoon North Avenue 1 in District 19. It is set in the midst of lavish finishing reminiscent of an extravagant resort and contains 1,012 residential units, 40 exclusive strata landed houses and five retail shops.

Island Hopping

This condominium project is made up of three islands in which residents are free to island hop to access its extensive facilities (88 of them in total).

Are you a fitness enthusiast? The floating gym which overlooks over 90m of water features will definitely not let you down.

Also, it has perfect venues and facilities like the sky barbecue and alfresco kitchen and dining space for you to hold parties and spend quality time with your dearest family and friends.

Nature fanatics can immerse themselves in the greenery as they stroll along the forest boardwalk and appreciate the serenity in the backwoods cabanas.

A humongous project

Despite being a relatively large-scale project, our homegrown developer is positive on embarking it. The Oxley-led consortium has formed a strategic partnership with powerful joint ventures that have desirable past achievements in construction. This gave them stronger conviction to undertake this project, understanding that there will be improved quality control and prompt delivery of work.

In addition, the location of this project is really good. Its average land cost is about $835 psf per plot ratio, which is relatively cheaper than the others.

A diverse populace

Since the development offers a broad range of unit types, from one-bedroom units all the way to as huge as five-bedroom strata landed homes, it has wooed a good mix of buyers. You can see individuals, newly-wed couples, small families, big multi-generational families and even investors.

Centric location

Affinity is close to almost anything that you will need. For instance, you have a gigantic shopping mall like Nex shopping mall, a food heaven like the Chomp Chomp Food Centre, and many other amenities like the Serangoon Gardens Market and Serangoon Community Park.

Parents do not have to worry about lack of good schools around the area. Right within the vicinity, you can find plenty of them which includes Rosyth Primary School, Zhonghua Primary School, Nanyang Junior College, the French School and Australian International School.

Car drivers are going to love this location even more as Affinity is so accessible to other parts of the island! You are connected via major expressways like the Central Expressway, Seletar Expressway, Tampines Expressway and Kallang-Paya Lebar Expressway.

Strong Community

This development, being named Affinity, is designed with the community in mind. It is aimed to make residents feel a sense of belonging towards the place they live in and closeness with the people living around them. The community places a very important factor when making a home purchase decision. You want to live in a place where you feel belonged, safe and warm. Home is where you retreat to after a tiring day at work and you want to come back to somewhere you feel deeply bonded to.