JAKARTA, KOMPAS.com – The property market in Singapore showed a decrease in performance since the last 2 years.
Urban Land Institute and PricewaterhouseCoopers (PwC) LLP even predict Singapore’s property market sluggish next year.
Based Data ULI and PwC, as much as 17 percent of investors are interested in investing in Vietnam from Singapore. This amount is the second largest investor from Japan which is 22 per cent.
In addition, in the survey, Singapore’s position declined sharply in the ranking of 21 compared to the previous projection in 11th place.
“This due to problems of overcapacity of office space, the drop in retail sales, and housing prices declined in five years, “wrote the survey.
A combination of a slowing economy, excess supply, a decline in demand and the fall in housing prices for 12 quarters a row has been created
“storm” perfect for Singapore.
Today, Singapore is the only market in Asia Pacific which suffered from a cyclical downturn of the property.
office rental center Singapore city slumped 3.5 percent in the second quarter 2016. Restrictions five consecutive quarters contributed to the decline in rental rates.
the occupancy rate is also affected by shrinking demand for downsizing of the financial sector, especially those in foreign banks.
However, according to Chief Business Officer PropertyGuru Group Lewis Ng, the decline in sales that occurred in the Lion City, is actually reduced gradually by 2016.
“Singapore risen opportunities exist in 2017. What I saw , the volume of transactions at the end of 2016 began to rise, “said Lewis told Kompas.com as Real Estate Summit 2017 in Jakarta, Thursday (08/12/2016).
He added that Singapore’s property market is still attractive to the local and foreign investors.
While properties in Singapore sluggish, local investors to seek other opportunities outside the country.
one of the targeted are developing countries such as Indonesia, Vietnam, and Cambodia.
“The Indonesian market is very attractive, as well as Vietnam. Cambodia, despite the high risk, still a chance, “said Lewis.
properti.kompas.com
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