Developer Sentiment on Property Market Unexpectedly Improves

By Mr. Propwise

Many observers of the Singapore property market believe that based on a host of local and external factors, sentiment towards buying real estate should be weak. Locally, we have a large amount of upcoming supply coming on to the market in the next few years, and greater caution on the part of the government in letting too many foreigners in due to political pressure. Externally, we have plummeting stock markets worldwide, weak employment numbers in the United States and an uncertain situation in Europe. If any crisis happens, Singapore will certainly not be spared given the open nature of our economy.

Based on the above laundry list of worries, a rational person could be expected to come to the conclusion that property sentiment and sales should thus be weakening. But he’d be wrong. Strong demand at some mass market condo launches have led to increased optimism among …