Friday, September 14, 2012

Six out of 10 Singaporeans Keen to Purchase Property in the Next 12 Months: Survey

Some 62 per cent of Singaporeans are set to purchase property in the next six to twelve months despite the economic uncertainties in the world and rising property prices, according to the Asia Property Market Sentiment Report 2012 for the second half of this year.

Public housing remains the favourite of the potential buyers with 56 per cent of the respondents indicating their preference for HDB flat.

“While housing affordability remains a major concern for consumers in Singapore, with many adopting a wait-and-see approach, the majority of Singaporeans are still actively looking to purchase a property in the short to mid-term,” said Sean Tan, General Manager, Singapore.

Location is the number one factor that buyers will consider in their purchasing decision, followed by price and potential rental yields, noted Tan.

About 38 per cent of the Singaporeans surveyed are considering investing overseas with Malaysia (33 per cent) and Australia (19 per cent) being the top destination.

The Singapore numbers were higher than consumers in Hong Kong (15 per cent), Indonesia (32 per cent), and Malaysia (19 per cent).

This is not surprising due to the strong Singapore dollar and high local housing price, according to Tan.
The Asia Property Market Sentiment Survey 2012 was carried out in July and attracted over 25,000 respondents.

Some 2,983 respondents from Singapore took part. Most of them are in the age group of 41 to 50 years old.

Martin Koh | 86666 944 | R020968Z
Sherry Tang | 9844 4400 | R020241C
Senior Sales Director
DTZ Debenham Tie Leung (SEA) Pte Ltd (L3006301G)

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