Since the 2022 Singapore property cooling measures were enacted in September 2022, the Singapore private residential property market has slowed considerably. However, it was not all due to the cooling measures as there are many other factors at play.
Here we look at a few of these other factors and provide our views on why we think the Singapore private residential property market is probably going to fall in the short term.
p.s. need a tl;dr? grab our Singapore Private Property Market Report here
1) Data shows the market is overextended
Looking at the charts above, we can see that the property price index has increased from around 140 points to 187.8 while the rental index has increased from just above 100 points to 137.9 points now. What is worth highlighting is the trajectory of the increase.
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