Singapore
The Land of the Lion is Biting Back for Todays Bargain Hunters!
A
fter five years of price gains, the Singapore housing
market seemed to have finally hit rock bottom, during
the housing boom of 2013, prices soared to a record
high of 40%, spurred on by low interest rates and demand
from foreign buyers. As prices peaked, the government
capped borrowers’ total debt repayments at 60% of their
income, making it harder for Singaporeans to refinance loans,
and placed additional taxes on home purchases by foreigners
and levies on property sales.
These measures cooled the market: Thus Singapore’s home
prices fell 4% in 2014, the first year-on-year decline since
2008, and 12.6% for the 1Q of 2015 but with this year marking
the 50th anniversary of Independence and an election year to
boot could 2015 be the ideal time for savvy property investors
who are willing to grab a bargain and sit on it while the markets
balance themselves out?
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