It’s a tired trope throughout Asia to say Singapore lacks soul. Clean, walkable streets. Efficient traffic. Effective public transport. Well organised family fun. Innovative bars and restaurants. Shiny modern towers and lush planned parklands. Ugh. Who wants that?
Well, if we’re talking about players in the luxury property market, lots of people.
“Singapore is known as a safe haven in Southeast Asia, with a stable currency and transparent housing regulations,” says Christine Li, senior director and head of research for Cushman & Wakefield Singapore. “Risk involving property development is virtually non-existent for retail investors,” adds Li. After 15 consecutive quarters of price declines—which, experts say, signalled not softer innate demand, rather a wait-and-see attitude with regards to government policies—prices began rising mid-2017 and jumped 9.1 percent by the halfway point this 2018.
Experts are predicting a 10 percent expected value growth in properties this year, even amid recently implemented cooling measures as recently as July 5. Concerns about “euphoria” in the market had the government announcing it would raise the Additional Buyer’s Stamp Duty (A