Most leading commercial property developers in singapore are predicting a mix of a slowly dwindling supply of rental home as well as steady job growth, will lead to making the city of Singapore one of the most powerful condo markets in the state this season.
This prediction is founded on a recent report examining condo marketplace and the flat, wherein 42 metropolitan areas were reviewed according to job growth, present building, affordability, their vacancy rates and rental tendencies. The report viewed Singapore is one of the most powerful condo markets and also have many new development projects including Hundred Palms Residences EC
Job Growth, Low Vacancy Rates Lead To the Steady Condo Marketplace in Singapore
The steady condo marketplace in a major component Singapore may be credited to the recent tendencies, such as job growth, low vacancy rates, as well as a substantial decrease in flat supply of the region., Singapore is the sole metropolitan area in the Asia where the supply of flats is rapidly diminishing.
The truth that a sizable section of Singapore flats are being converted into Singapore condominiums quicker than new ones are being built., may cause vacancy rates here to become even lower, and may lead to a further increase in demand for condominiums. Another variable that further reinforces the condo market of the region, is the amount of investors which can be purchasing condominiums, both converted and natural, a number of that may end up reappearing back onto the neighborhood rental market shortly.