51% of Singapore property buyers are on the prowl for investment

Not on the look out for houses to live in.

According to iProperty.com, new launches remain by far the first choice, topping existing properties 68% to 22%. 

Cross referencing this data with URA resale volume data shows market sentiment and market performance closely correlated.

Here's more from the report:

During much of 2012, roughly 40% of transactions were resale properties, which most recently fell to less than 30%.

And most buyers are looking not for a place to live, but for a long-term investment: 51%, up from the previous survey’s 30%; for rental income – 46%; and 40% to own a home.

59% of respondents are confident their property will retain its value, with 21% responding ‘no’. 51% are confident HDB flat prices will continue to rise for the next three years, despite 20,000 new Build-To-Order (BTO) flats every year since 2011.

28% say HDB prices will drop. Some respondents see declines in the private sector: 13% new private condos; 17% resale private condos; 23% non-landed luxury; and 12% landed luxury.

 

 

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