Many Singaporeans still dissatisfied with housing market: survey

[reporter2]

http://www.propertyguru.com.sg/property-management-news/2016/4/123462/many-singaporeans-still-dissatisfied-with-housing-market-survey

Many Singaporeans still dissatisfied with housing market: survey

Romesh Navaratnarajah • April 25, 2016


Many Singaporeans are still unhappy with the state of the local property market, according to PropertyGuru’s latest Property Affordability Sentiment Survey 2016.

About 44 percent of the survey’s 933 respondents reported being dissatisfied with the market. The main cause of unhappiness remains the sky-high property prices.

However, the majority of those polled believe home prices will stabilise or fall further in the next six months.

Meanwhile, 28 percent of respondents said they are satisfied with the local market, up from 26 percent during the same period in 2014.

Close to half of the respondents (48 percent) said they intend to purchase residential property in the next six months, up five percent from 2014. Their optimism is largely due to the good long-term prospects for capital appreciation.

At the same time, 42 percent of respondents feel the government is doing enough to make housing affordable, up nine percent from two years ago. About 68 percent support the government’s property cooling measures.

“(The) results show that although pricing concerns remain, the overall mood is more positive, with almost half of respondents saying they intend to buy this year,” said Steve Melhuish, CEO and co-founder of PropertyGuru Group.

“We know that finding your ideal property can be daunting, and without transparency or relevant information, the property-buying process can be frustrating and confusing. Through our regular surveys, research insights, tools and media-rich content, we aim to help millions of consumers make more informed and confident decisions every month,” he added.

Carried out in December 2015, the survey offers insights into the current mood and attitudes of property seekers here, and has been conducted regularly since 2009.

[reporter2]

http://sbr.com.sg/residential-property/news/over-4-in-10-singaporeans-are-disgruntled-residential-market-survey

RESIDENTIAL PROPERTY | Staff Reporter, Singapore

Published: 25 Apr 16

Over 4 in 10 Singaporeans are disgruntled with residential market: survey


Expensive prices are a top concern.

About over 4 in 10 (44%) Singaporeans are dissatisfied with the local property market, according to real estate portal PropertyGuru’s latest Property Affordability Sentiment Survey.

Dissatisfied respondents also indicated that the primary reason was consistent from 2014—expensive prices of “overpriced” property. However, most of respondents expect prices of local residential housing overall to stabilise, or fall further over the next six months.

Moreover, the survey also reveals an uptick in reported satisfaction for the local property market. Almost 3 in 10 (28%) say they are very or quite satisfied with the current market, compared to 26% from the same period in 2014.

Additionally, local purchase intent has improved. Almost half (48%) report that they intend to purchase residential property over the next six months—this is about 5% more than respondents who answered the same way in 2014.

“For those reporting to be satisfied with the local property market, the primary reason given was consistent from 2014; that there are good long term prospects for capital appreciation,” further said PropertyGuru.

Further, respondents who believed that the government is doing enough to make housing affordable increased by 9%, with more than 4 in 10 (42%) saying that the government is doing enough to make housing affordable. Meanwhile, over 6 in 10 (68%) agree with the government's current property market cooling schemes.

[Arcachon]

However, the majority of those polled believe home prices will stabilise or fall further in the next six months.

So what happen if the home prices will stabilise or fall further in the next six months?

Your guess is as good as mine, they will wait for another 6 months.

[august]

I always said the policy makers got it wrong. For example the CCR market has corrected hugely. But this segment is small in scale and out of reach for most Sporeans. On the other hand HDB and OCR markets that affect the majority have hardly corrected. This is why surveys after surveys will keep showing people still dissatisfied with housing prices. In any case you cannot please everyone, especially those who are not realistic or missed the boat. And 44% is a number that can be disregarded, lol.

[amk]

what a funny "survey".

I'm sure if we do a survey on car prices, we will have a title "Over 9 in 10 Singaporeans are disgruntled with high car prices".

I hope the policy makers are not basing their judgment on these type of "surveys".

[minority]

Since when will people be satisfied? if Price crash it will still be 9/10 not satisfied. coz by nation people will never be satisfied. regardless how good they have it.

[Kelonguni]

Should ask them what price and quality they will be satisfied.


Since when will people be satisfied? if Price crash it will still be 9/10 not satisfied. coz by nation people will never be satisfied. regardless how good they have it.

[henryhk]

Should ask them what price and quality they will be satisfied.

Those MTB are hoping for pte property to crash by 50%, ....fat hope, the new ones are hitting the roof still! Unless u don't mind pick resale, probably u can get some discount! Hahaha

[teddybear]

This is clear SIGN that the so-called "property cooling measures" are not doing what they said it is supposed to do..............

What we do not know is:
Either: (1) The property cooling measures had failed badly;
OR: (2) The so-called "property cooling measures" are designed to be meant that way, that is, to crash CCR private property prices while keeping new OCR private property prices at historical highs.

So which is true???



Those MTB are hoping for pte property to crash by 50%, ....fat hope, the new ones are hitting the roof still! Unless u don't mind pick resale, probably u can get some discount! Hahaha

[teddybear]

How do you know the policy makers got the property cooling measures policy wrong???

What we do not know is:
Either: (1) The property cooling measures had failed badly;

OR: (2) The so-called "property cooling measures" are designed to be meant that way, that is, to crash CCR private property prices while keeping new OCR private property prices at historical highs.

So which is true???

If (1) is true, we should expect to see quick and further property cooling measures targeted at the segment that DIDN'T cool, but this has not been fore-coming so far..........

Let's wait and see whether (2) is true or not (If no action taken and OCR private property prices is allowed to stay near historical high for next 1 year)..............



I always said the policy makers got it wrong. For example the CCR market has corrected hugely. But this segment is small in scale and out of reach for most Sporeans. On the other hand HDB and OCR markets that affect the majority have hardly corrected. This is why surveys after surveys will keep showing people still dissatisfied with housing prices. In any case you cannot please everyone, especially those who are not realistic or missed the boat. And 44% is a number that can be disregarded, lol.