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About

The Singapore property market has an 11 year price cycle. The current cycle is expected to peak in 2010. The Singapore’s property market is however, vulnerable to turbulence in its local economy. The threats that face this include, raising inflation, under performance in forecast economic growth and weaker export business out of the country.

Due to the nature of the country, the majority of property is in the public sector accounting for 85% of the total households. In the 1990, the government had schemes to encourages development of private housing, which was successful as private housing share increased rapidly. In 2007, Singapore’s residential property market boomed due to strong economic growth and an influx of professional migrants to Singapore, which particularly boosted the financial service industry. The demand for Singapore office space is driven by the tight supply issue in the Singapore property market and the expanding financial facilities available to service private wealth in Asia. (For example in 2008 (Masterplan 2008), according to the Singapore Land Authority, the availability of Singapore residential property was tight with only 4,457 new units are under construction or planned for 2008 to 2013)

 

 

 

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