What are Singaporeans' view on real estate here?
PropertyGuru's bi-annual Consumer Sentiment Survey indicated that 41 percent of respondents (with more than half of them aged 30-49, drawing medium to high incomes and are married with children) are generally satisfied with the real estate climate here due to the long-term prospects for capital appreciation, stable real estate market, and local economy.
Thirty-nine percent have some sentiments about restrictive government policies and are dissatisfied with increasing property prices that accompany small unit sizes.
How do Singaporeans feel about home affordability?
Majority (88 percent) feels that property prices are high; some expect that prices will increase in the next six months, while others see property as affordable and good value for money.
What type of property is popular among upgraders?
There is an increase percentage of respondents (compared to survey results in the first half of 2018) who are interested to buy a condominium (increase of 22 percent), landed property (increase of 20 percent) and mixed-use development (increase of 32 percent).
ECs are also favoured by middle-income families who aspire to reap long-term capital appreciation prospects.
What about millennials?
Approximately 24 percent of millennials who move out of their parents' homes were aged 27 and below, with two-thirds owning their first property between age 28 and 34.
With the rise of co-living concepts gaining popularity, people rent or purchase properties together, making it more affordable and attainable for millennials.
Information by PropertyGuru.