If you were to conduct a search on the internet, you will realize that real estate prices have been soaring rapidly for the past few years. Coupled with the inflation of Singapore keeping at its annoying level of 4.90% as of February 2013, it makes living in Singapore difficult for many locals.
Since the financial meltdown in the United States in 2008, investors has been pouring lots of hot money into Asia and many prefer to "park" their money in physical real estate in Singapore, Hong Kong and China. Singapore is a disaster free zone. Together with the low crime rates, limited land space, strong currency policies and low interest rates, it makes Singapore Real Estate a good investment asset.
The Singapore government has been trying very hard to channel these "hot money" into other investment asset class by implement numerous measures to restrict foreign purchase. Some of these measures includes an additional buyer stamp duty of 15 per cent for foreign buyers. The effect of these cooling measures is still unclear but the latest property price index shows that property prices is beginning to show signs of stabilizing.
I do hope that this cooling measure will help to stabilize the real estate price in Singapore so that every Singaporean will be able to afford at least a house for their family. Providing an affordable housing for every Singaporean, isn't that the motto of Housing Development Board (HDB)?
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