In an article in Property Guru, it was revealed that the luxury home property values in Singapore have decreased by 10% during 2014’s third quarter. As further reported by the Property, the price decline is largely attributed to the needs of home buyers to decrease their investment budgets.
Good News to Be Happy About
This is good news for local residents and foreign nationals wishing to make an elegant home investment in the country. Several individuals now have bountiful investment options should they decide to purchase the elegant homes that top their priority’s list.
As reported in a BBC article, Singapore captured the number one spot from 131 international cities in “The Top Pricey Countries to Live In for 2014” list. BBC cited the Economist Intelligence Unit as the source for this data.
An Ownership Pride
The privilege to own an elegant home in Singapore is the greatest pride an investor can have. The revenues or return profits gained from making a valuable investment in Southeast Asia’s finest are bountiful. This is due in large part to the Singapore dollar’s strong currency value in the market.
Spend Less; Earn More
Bearing these facts in mind, investors should have the idea that they can spend less and earn more even if they invest in Singapore’s luxurious homes.
Investors in Singapore should also take advantage of the opportunity of getting the best from both worlds. As they spend less and earn more after making a luxury residential property investment, their daily earning powers increase, too. Investors can take delight in having the ability to buy things they’ve always needed or wanted, without having to go on a budget.
High Expectations to be Considered, Too
The Property Guru also reported that many Singaporeans have high expectations for their country’s future economic progress. Because of this, many home buyers are not too keen on buying a residential property. Singaporean home buyers are committed in hanging on to their hopes for better properties to come their way.
Not a Good News for Developers
The decreased luxury residential property values is not something developers and real estate professionals are happy about. Home sellers fears they won’t be making the targeted revenues they have set in the long run if this trend continues. They begin to question what the future has in store for Singapore’s residential property market.
2014’s third quarter fell on a summer break for most students and other individuals, as well. Experts predicted that this factor likely played a huge role in the substantially low property sales percentage. Developers will just need to wait for things to pick up again this time that winter is already fast approaching.
The luxury residential property values decrease does poses its ups and downs. This situation is beneficial to some, but disadvantageous to others. Home buyers and developers need to work closely together in order to make things favourable to both parties. They need to exert efforts in meeting each other halfway to succeed in meeting each of their professional objectives.
Article Contributed By: BestNewCondo.com