Singapore government imposed another round of cooling measure on 5th July 2018, and there are a lot of “question marks” on the future of the real estate market in Singapore, and that in turn has created fear of more measures to cool the market. On the day of the announcement, the collective sales of condo in the showroom hit over 1000 units, and that was in a short span of 4 hours. The sale transaction in July 2018 was phenomenal, due in part to the rush of purchase on the day the new measure was announced, and partly also due to fear that the government may come up with more measure in that period. But the sales transaction figure in August 2018 was disappointing, as it dived 64% in comparison to July’s figure, and one may ask what does the future hold? Many expert forecast that the market is in a state of shock at this point of time and once it’s settled down, the buyers will start to come into the market again, albeit at a slower pace.
Singapore is considered one of the most stable countries in the world, and our real estate is one the most sought after investment class asset for some of the main reasons below:
1) The ascension from a third world country to a first world country in such a short span of time from 1965 says something about the government of Singapore. Singapore has built strong foundation in every aspect and that has help to support its economy and attracted massive amount of Foreign Direct Investment (FDI). There is very low corruption in this country, with transparency of government as an utmost priority, and that has in turn attracted many MNCs to set up their bases here. Singapore is also a very pro-business country with favourable corporate tax rate. All these some of the main reasons why Singapore is one of the important financial hubs in the world, and why so many MNCs are setting up their regional bases here.
2) Singapore can be considered one of the most politically stable countries in the world, with the People’s Action Party (PAP) being at helm almost since independence, and therefore one can hardly find a wild swing in the policies governing the country.
3) Singapore is one of the smallest countries in the world with limited land, and in this aspect, there is a striking similarity to Hong Kong, which boast to have the most expensive real estate in the world.
4) Prudent and astute monetary policies by the Monetary Authority Of Singapore ensure Singapore remains competitive and relevant in the financial market.
There are countless more reasons that contribute to the sustainability and the continued impressive performance of the Singapore real estate, but those mentioned are probably the main reasons.
After all being said, investors and home buyers might want to consider Singapore Jade Scape condo situated in Shunfu, launched on 8 September 2018. It is a 99 year leasehold development by Qingjian Realty, bought over by the developer via a collective sale in 2016. This is a very rare launch, as there hasn’t been many new condo launches in Shunfu/Bishan area for many years, and that made Jade Scape Shunfu a prized commodity. One of the major selling points of this project is that Marymount MRT (Circle Line) is only 200m away, and that the future Upper Thomson MRT under the Thomson East Coast Line is only about 600m away, which probably explains why about 9,000 people thronged the showroom on the first weekend.
For more information visit: https://www.jadescape-marymount.com/
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Company Name: ERA Realty Network Pte Ltd
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Phone: +65 6100 0056
Country: Singapore
Website: www.jadescape-marymount.com/
