Are Private Housing Prices Still Affordable In Singapore Real Estate ?

With the economy back on track in a slow yet assured way property players are rushing back to the red hot Singapore real estate market. The market is flushed with bullish sentiments & property developers have been busy adjusting up their prices in their daily advertisement. You can’t help but starting to pay attention only to come to the conclusion that the prices are beyond you.

Are the current real estate prices reasonable? Are there really enough crazy buyers out there to support such price levels? Or have you been slackening & you accumulation of wealth & income has not been able to keep pace with the property prices?

To have a better sense on what is going around on the property market; let’s begin by checking on how property news/prices are relayed to you. If you are not a major & active real estate player chances are you have to be reliant on secondary sources such as media for your property update. Media like newspaper radio & TV all inadvertently play a role in helping us shape your belief.

We are not suggesting that our media has been responsible for inaccurate reporting.Rather we are aware of the fact media exists to disseminate ‘newsworthy’ & interesting reports.The fact remains that in all reality for one super-scale mega project there are probably a number of more modest launches that do not make headlines materials. A grand & mega project that runs into hundreds of millions in development cost would easily snatch the headlines from more decent real estate development.

Advertisements paid for by glamorous developers represent another reason in a similar way. These super-scale luxury housing advertisements of Marina & Sentosa enclaves for instance are targeting those very rich foreigners & locals. It makes sense that these are priced with a premium & are generally not meant for average Singaporeans.

Of course resale prices for privately owner-occupied properties are obviously lower than those advertised at the new launches.But few people are aware of them as the lack of ‘newsworthiness’ elements.For the average guys among us the new launch prices are what making news within our circles.

One other reason that helps to form this belief is that the 2007 real estate boom is still fresh in the Singaporeans’ minds.Again these properties are not aimed at the average Singaporeans. With the integrated resorts as backdrop many developers have taken their cues & gone on to launch a number of super-luxurious & super-exclusive projects in great fanfare & to massive successes in drawing in record number of overseas investors.

In all reality the private housing market does not affect the intention to remain static as is inflation a natural element in any economy. But there is still a modest number of private housing prices around Singapore. The suburb features just for comparison only single-digit price increases registered in the last ten years. It is up to you to optimize your needs & watch for them.

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