Updated: 04/30/2014 22:20

Consistent pent-up demand for properties, especially condos: iProperty survey



Consistent pent-up demand for properties, especially condos: iProperty survey

Real estate portal iProperty says its latest survey found that there is consistent pent-up demand for properties, especially condominiums. 

Over half of the almost 3,000 Singapore respondents said they have intentions to buy a property within the next two years. 

iProperty says this is largely unchanged from half a year ago or one year ago. 

Its General Manager for Singapore, Sean Tan says this is because properties remain attractive as an investment. 

"One of the key findings of the survey suggest that property as an investment as an asset, the confidence level in it is still very high, especially in the long run / anything long run will be at least 5 to 10 years so a lot of people still look at property and real estate as a viable investment opportunity and there are returns in it."

The survey says about half the respondents see property as a long-term investment, that is up strongly from around a quarter of respondents, in the previous survey. 

It also found that Singaporeans are supportive of the cooling measures and in particular lauded the Additional Buyer's Stamp Duty and Total Debt Servicing Ratio or TDSR. 

Still, many are unsatisfied with current price levels with more than half believing further cooling measures are required. 

Meanwhile, Malaysia remains the top choice for overseas property investment, followed by Australia, the UK and Thailand. 

For HDB, iProperty's survey found that over 30 per cent expect prices to continue falling, while 50 per cent are expecting prices to stabilise. 

iProperty's General Manager for Singapore, Sean Tan is expecting prices to fall. 

"Its very interesting to note that there is more than 80,000 build to order hdb flats coming online in the next 3 years so supply is actually very healthy and i'm sure that would and that should create downward pressure in terms of price point. So analysts are expecting prices to fall as much as 15 per cent over the next two years."

Overall, the half-yearly sentiment survey had over 18,000 respondents in Singapore, Malaysia, Indonesia and Hong Kong.

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