Residential

Effect of ABSD is only temporary, rental market benefits in the short term

Consultants say that the effect of the ABSD is temporary, as foreign buyers are still on the lookout for attractively-priced properties. However, since some of these buyers are expatriates who brought their families along when they came to work in Singapore, they need a temporary accommodation and this is where the rental market comes in. This includes private homes for rent, serviced residences and long stay accommodations, whose demand have increased after the ABSD though the increase in demand for such accommodations may be due to other factors. With the developers absorbing part of if not all of the ABSD and offering furniture vouchers to attract buyers and Singapore’s strong property market and reputation for safe investments, foreign buyers may continue to invest in the property market.

Number of HDB upgraders increase

The number of HDB ...