Looking back at 2018 real estate market in Singapore

1. Looking back at 2018 real estate market in Singapore 2018 started with a boom in the property market of Singapore. After a series of land deals by various real estate agents and developers, massive response towards new launch properties like The Tapestry and the Rivercove Residence and the other factors contributing to the price rise of the property graph in Singapore. In recent times the real estate market of Singapore has become more upbeat about the state of the property market as the RESI (Real Estate Sentiment Index) hits a record high since it was launched in the 1st quarter of 2010. Since then the sentiment improved to 7.1 in 2018, 1st quarter from 6.9 in the last quarter of 2017. Although a point of time, the sentiment if shown above 5 is an indication of improvement. Again a lower score than 5 indicates a detonation scenario. The current RESI score is one of the highest after 10 consecutive quarters if increase since the last quarter of 2015. However, this improvement in the property market is a result of all the sectors of the market. According to many market experts and property agents, the property price is expected to rise more in the coming quarters and within the end of 2018, property index will achieve more than its expected growth. Around 15 % of the new property launch developers are steady with their decision to launch their projects as per their plan and in the 1st quarter of this year, many such new launch projects have achieved better responses as expected. Coming to the growth of HDB apartment resale, the price of HDB flats are also rising adding to the upward growth of the property market in Singapore. For example, the 13th floor of the Queenstown HDB flat. The 13th floor of the Queenstown HDB flat is said to home the seller since 1995 and when the planned to move to an upgraded nearby condominium, the first asking price for the HDB flat was $1.1 million, according to the listing on a property portal. During its listing period of 2 weeks, more than 5 buyers visited the advertise, until it was sold to a woman who was again looking for a property after her own house went en-bloc. The real estate prospect in Singapore has always been the key factor behind the confidence of the investors to inject funds, and with the recent growth, it is expected this funds will increase even more. Singapore homes some of the world’s priciest property and owing to the huge number of expats residing in the city, most of the property has the latest amenities and facilities that suffice the demand of the international residents. The recent steps taken by the Government of Singapore has all the necessary reasons that will add to the growth of the property market in Singapore. A chunk of money is involved in the real estate market and in Singapore, With the growth of the property market in Singapore, the property portals are equally rising, the main reason behind the rise of the property portals are the number of users looks for the property on the internet before visiting the actual site. The property portals are an excellent option for the audience to get more information about the property, the developers, exact location, its proximity from the nearest MRT station and the upcoming development of the nearby location. The past work was done by developers also adds to the credibility of the developers which helps them to understand the nature of their work.

2. Again the pictorial and video representation of the property makes the audience to look all the factors about the property by just sitting from his home saving a lot of time for the buyers and the sellers at the same time. This makes the deal more easy and comfortable for both the parties while dealing with the property. All this trends enables the property agents in Singapore to get the best return from the market