Your search results

Navigating Singapore’s Real Estate Market: The Truth Behind 5 Common Misconceptions

Posted by Jayson Ang on March 19, 2024

| 0

The real estate market in Singapore is known for its stability and attractiveness to investors both locally and internationally. However, there are several misconceptions about the market that may prevent potential buyers from taking advantage of the opportunities available.

In this post, we will explore five common misconceptions about Singapore’s real estate market and provide insights to help buyers make informed decisions.

Understanding these misconceptions can help potential buyers avoid making costly mistakes and make the most of the opportunities available in Singapore’s real estate market.

Property prices always go up: While property prices in Singapore have generally trended upwards over the long term, they can also fluctuate based on market conditions. Economic downturns or oversupply can cause property prices to decline, as seen in the 2008 global financial crisis and the recent COVID-19 pandemic. It is important for buyers to consider their financial situation and the overall market conditions before making any investment decisions.
Foreign buyers are driving up property prices: While foreign buyers do play a role in Singapore’s property market, they are subject to additional stamp duties and restrictions compared to Singaporean citizens and permanent residents. For example, foreign buyers are required to pay an additional 20% stamp duty on top of the existing stamp duties, making it less attractive for them to invest in the market. Additionally, Singapore has implemented measures to ensure that locals have priority in purchasing public housing, further reducing the impact of foreign buyers on the market.
Owning private property in Singapore is out of reach for most people: While private properties may be more expensive than public housing, there are various financing options and government schemes available to help eligible homebuyers. For example, the government offers housing grants and subsidies to help with down payments and other related expenses, and banks in Singapore offer various loan options with competitive interest rates. Additionally, some private developers may offer deferred payment schemes or other financing options to make it easier for buyers to afford a private property.
Renting in Singapore is always more expensive than buying: While owning a property may provide long-term financial benefits, it may not always be the most affordable option in the short term. Renting may be a more practical choice for those who do not plan to stay in Singapore for the long term or for those who do not want to take on the responsibilities and expenses associated with property ownership, such as maintenance and repair costs. Additionally, renting can provide more flexibility and freedom to move to different areas or neighborhoods.
Property agents are not necessary or only useful for those who are unfamiliar with the market: While it is possible to navigate the real estate market in Singapore without the help of an agent, a good agent can provide valuable insights and guidance throughout the entire process. For example, they can help buyers identify properties that meet their needs and budget, negotiate on their behalf, and provide legal and financial advice. Additionally, agents may have access to off-market properties or exclusive deals that are not available to the general public.

If you would like to arrange a viewing appointment with us in Singapore, do send us a DM here

And if you want even more tips and advice on investing in the Singapore property market, be sure to follow, like and share, contact us for expert advice, and I’ll see you in the next post!

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Buying Tips Opinion

I Wouldn’t Rely Too Heavily On Discounts Related To ABSD This Year

Jayson Ang – February 28, 2025 –

TLDR The ABSD discount arises when developers approach their five-year deadline to sell 90% of units, facing a 40% penalty...

Mandarin Top 5

Top 5 Tips How to Find Your Dream Home in Singapore: A Step-by-Step Guide

Jayson Ang – October 21, 2024 –

Singapore, a vibrant and dynamic city-state, offers a diverse range of housing options for prospective homebuyers. From condominiums and HDB...

Mandarin Top 5

Top 5 Museums in Singapore for Art and History

Jayson Ang – February 29, 2024 –

Singapore, known for its vibrant culture and rich history, is home to a plethora of museums that cater to art...

All Blog Posts Buying Tips

Discover the 3 Top Factors Impacting HDB Resale Valuation in Singapore: What Every Buyer Must Know!

Jayson Ang – July 27, 2023 –

TLDR The blog post discusses the increased demand for HDB resale flats and the impact on prices. It emphasizes the...

All Opinion

The Cost of Housing – Affordability vs Premium?

Jayson Ang – August 11, 2023 –

TLDR The blog post discusses the challenges Singapore faces in housing affordability, particularly the rising costs of private homes compared...

Mandarin Top 5

Top 5 Coffee Shops in Singapore for Coffee Lovers

Jayson Ang – August 17, 2024 –

Singapore, a bustling city-state known for its diverse culture and vibrant food scene, has also become a haven for coffee...

Mandarin Top 5

Top 5 Reasons : Why is Supply so tight for Singapore Property?

Jayson Ang – January 22, 2025 –

Singapore's property market has been experiencing a tight supply in recent years, leading to increased demand and rising property prices....

All Buying Tips

Looking To Buy An Older HDB Flat? Here’s What You Need To Know Before You Sign On The Dotted Line!

Jayson Ang – March 27, 2024 –

TLDR When considering purchasing an older flat, ensure to thoroughly inspect wet areas for leaks, check balcony conditions, watch out...

All Buying Tips

Want To Buy A Property? Read Me First!

Jayson Ang – December 7, 2022 –

TLDR Understanding the key factors involved in buying property in Singapore is crucial for making informed decisions. Consider your investment...

All Opinion

Snag a Sentosa Condo for 40% Off? Should You Consider It!

Jayson Ang – May 23, 2024 –

TLDR The Residences at W Singapore Sentosa Cove has slashed prices by over 40%, but there are important details to...

Mandarin Top 5

Top 5 : How Does Investing In Luxury Condos In Singapore Compare To Investing In Other Real Estate Asset Classes In Terms Of Long-Term Capital Appreciation?

Jayson Ang – December 9, 2024 –

Investing in real estate has long been considered a reliable way to build wealth and diversify one's investment portfolio. In...

All Buying Tips

Why It’s Not Financially Sensible to Pay Off Your HDB Flat Home Loan in Advance

Jayson Ang – April 29, 2024 –

TLDR When deciding whether to repay your HDB flat loan early, consider the limitations of not being able to obtain...

Mandarin Top 5

Top 5 : Factors Influence Real Estate Investors’ Decisions when Investing in Singapore Condos?

Jayson Ang – December 11, 2024 –

Singapore's real estate market has always been an attractive investment option for both local and foreign investors. The city-state's stable...

All Blog Posts Buying Tips Opinion

6 Compelling Reasons Why 3-Bedroom Condos Might Shrink Further

Jayson Ang – November 15, 2024 –

TLDR Three-bedroom units in Singapore have significantly downsized from 1,700-1,800 sq. ft. in the 1980s to around 1,000 sq. ft....

Mandarin Top 5

Top 5 Factors : Investing In Luxury Singapore Properties: Is It Worth It?

Jayson Ang – August 23, 2024 –

Investing in luxury properties has always been an attractive option for high-net-worth individuals seeking to diversify their investment portfolios. Singapore,...