Only 5 Percent Planning to Buy Property Now: Property Survey

By Property Soul (Guest Contributor)

With developers rushing to launch or re-launch new and existing projects ahead of the festive season, the Saturday after the Hari Raya Haji public holiday saw twenty-two property advertisements in the Straits Times marketing local property projects.

Despite aggressive marketing by developers, the PropertySoul.com Blog Readership Survey revealed that only five percent are saying that they are planning to buy a private property now. The property survey asked 355 respondents when they are planning to buy a private property. It was conducted online between September 5 and 23 this year.

Prefer to rent than buy

Despite the fact that 10 percent of respondents are currently renting, only 5.6 percent are planning to buy. The result shows that most renters still prefer to continue renting instead of taking the risk to buy now for fear of prices dropping further after their purchase.

A total …