Calm down, Singapore’s housing market is not about to collapse

Quick Summary:

Evidence points to a slowdown in Singapore’s residential property market, but a normalisation of activity is being misconstrued as a crisis.

This has become a source of frustration for the government, which has taken measures to regulate and temper demand in the public housing system, a pillar of social policy in the city state and a crucial political tool for the ruling People’s Action Party.

Although homebuyers have become more price-sensitive and demand from Chinese buyers – a crucial source of foreign demand in the luxury market – has waned, “developers have been spoiled”, said Nicholas Mak, chief research officer at property portal Mogul.sg.

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Article Details

Author / Journalist: Nicholas Spiro

Category: Business

Markets: Hong KongMaliSingapore

Topics: Year Singapore’s Public Housing Cent Property First Private Residential Flats Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-05 @ 16:30:09 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 989 words

Reading Time: 6 minutes read

Sentences: 39 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21928774

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