The latest Singapore property and real estate news each month direct from Expat Realtors team of expert realtors.

MARKET UPDATE / December 2009

Deborah Law

Executive Director, Expat Rentals

Amidst global uncertainty, the Singapore property market defies logic and seems to have a mind of its own. Despite government steps such as its recent release of land for housing, there is still concern that a property bubble may be forming.

If you’re buying, before putting down a deposit be sure to get a verbal bank valuation; at the moment, these are often below the asking price of the property, which affects the mortgage you can expect to obtain on it.

Rents are not mirroring the higher sale prices, and are still an average of 20 percent less than they were two years ago. We expect this to continue until at least March next year. Plenty of people are coming into Singapore, but housing budgets are much lower than they were.  What is exciting for expats is that as the international schools spread further afield, new areas that offer more value for money are opening up.

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