Singapore’s Housing Market Is Making a Comeback

Singapore’s Housing Market Is Making a Comeback

Now might be a good time to invest in real estate as more developers are offering units you can snatch. With Singapore beating Tokyo and Hong Kong on the quality of living, it attracts more investors, developers, and home-seekers.

Best Quality of Living in Asia

In Mercer’s global survey, Singapore ranked 25th among the cities with the best quality of living. Tokyo and Hong Kong ranked only 47th and 71st, respectively.

On the ranking for quality of city infrastructure, Singapore topped the list because of its electricity supply, phone services, drinking water supply, public transportation and more. Singapore’s internal stability, good-quality housing and low natural disaster incidence have also helped the city-state rank high in the survey.

Progressive Ecosystem

Singapore’s infrastructure has long attracted developers for the convenience it affords home buyers. With the Urban Redevelopment Authority, public and private development projects align with the goal of making Singapore ‘a great city to live, work and play’.

Choosing a Paya Lebar residence, for example, enables home-seekers to enjoy quality condos with easy access to public transportation, dining, and retail establishments, and urban workspaces.

Relaxation of Property Cooling Measures

The housing industry has softened its prices, with the government partially easing property cooling measures. This move created a lift in market sentiment and increased new home sales — almost doubled in April compared to the same period last year.

The partial change in property cooling measures has even prompted developers to bid at land auctions aggressively. Just last April, a record of 24 bidders attended a land auction, amid Chinese and Malaysian developers’ growing demand for land.

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With these developments, you can expect more residential units in the future as the signs of a housing market rebound are starting to show.