Singapore Property Is Unaffordable, Six Out of 10 People Say

Bloomberg2022-09-14

City-state’s real estate market defies gravity, fueling angstRising rates are having a limited impact on market: analystSingapore is defying a global property downturn, fueling concerns about ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

LuckyPiggie
2022-09-14
LuckyPiggie
To the moon .... buy buy buy [Cool] [Grin] [What] [Gosh]
BangkokBali
2022-09-14
BangkokBali
Bunit Timah will become affordable when sea level rise...
Simonnov
2022-09-14
Simonnov
Ic
Annalz
2022-09-14
Annalz
Singapore do not care about those people who are not affordable but rich group
blessed_1
2022-09-14
blessed_1
How to change house? [Cry]
iriscoffee
2022-09-14
iriscoffee
Save enough money and wait for property to crash

Leave a comment

187

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1146787933?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2022-09-14 08:09","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1146787933","market":"sg","top_or_hot":-1,"title":"Singapore Property Is Unaffordable, Six Out of 10 People Say","media":"Bloomberg","content":"<div>\n<p>City-state’s real estate market defies gravity, fueling angstRising rates are having a limited impact on market: analystSingapore is defying a global property downturn, fueling concerns about ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-09-13/six-out-of-10-people-say-singapore-property-is-unaffordable\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Singapore Property Is Unaffordable, Six Out of 10 People Say</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Property Is Unaffordable, Six Out of 10 People Say\n</h2>\n\n<h4 class=\"meta\">\n\n\n2022-09-14 08:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2022-09-13/six-out-of-10-people-say-singapore-property-is-unaffordable><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>City-state’s real estate market defies gravity, fueling angstRising rates are having a limited impact on market: analystSingapore is defying a global property downturn, fueling concerns about ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2022-09-13/six-out-of-10-people-say-singapore-property-is-unaffordable\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":null,"symbol_name":null,"start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2022-09-13/six-out-of-10-people-say-singapore-property-is-unaffordable","article_id":"1146787933","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1146787933","pubTimestamp":1663114184,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"City-state’s real estate market defies gravity, fueling angstRising rates are having a limited impac","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{},"translate_title":"十分之六的人说，新加坡的房产负担不起","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{},"content_text":"City-state’s real estate market defies gravity, fueling angstRising rates are having a limited impact on market: analystSingapore is defying a global property downturn, fueling concerns about affordability within the city-state.Nearly six in 10 people who want to rent or buy said they find property becoming more unaffordable, according to a poll of 790 respondents conducted in July by 99 Group, which operates online home rental portals.The price jumps are fueled by a shortage in supply due to construction setbacks during the Covid-19 pandemic, and demand spikes from people looking for upgrades and an influx of well-to-do foreigners. Buyers are brushing aside concerns about rising interest rates that have dented property markets from Australia to New Zealand.“Interest rate hikes do not seem to have a significant impact on new home sales” in Singapore, said Christine Sun, senior vice-president of research & analytics at OrangeTee & Tie Pte, a local real estate agency. Property prices, she added, are “more supply-driven rather than sentiment-driven.”Authorities are taking notice. The government introduced curbs last year to cool home prices that surged the most in a decade. Officials also announced tax hikes on high-end properties during the annual budget this year, and plan to increase the supply of private homes.Despite a brief slowdown, residential prices have rebounded and grew at a faster pace than expected in thesecond quarter, climbing 3.5%.Wealthy locals and high-earners moving to the city-state are pushing up prices, said Alan Cheong, executive director of research at Savills Plc. Singapore’s rentsurgedthe most among 30 cities globally in the first half, tying with New York. The nation said last month it would try towoohighly paid expats with a new visa.That’s part of the reason why luxury properties are seeing the most froth. Condominium resale prices rose for 25 consecutive months as of August, according to estimates released Tuesday by SRX, a portal run by 99 Group.The heat has also spilled into public housing, with some government-subsidized flats fetching price tags of more than S$1 million ($717,000).The surging prices pose a challenge for the ruling People’s Action Party. Its achievements include the highest public housing rate in the world, with over 80% of the country’s 4 million residents living in government-built homes.A separate survey in May showed residents are roughly split on the government’s response to housing affordability. About 52% said it was performing “well,” with the rest saying it was doing “badly,” according to the poll of 758 people by Blackbox Research Pte.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9934031719,"gmtCreate":1663157612531,"gmtModify":1676537215947,"author":{"id":"4107063207857540","authorId":"4107063207857540","authorIdStr":"4107063207857540","name":"LuckyPiggie","avatar":"https://community-static.tradeup.com/news/33330ac1fe6d6c956e10045c870d6f46","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"4107063207857540"},"htmlText":"To the moon .... buy buy buy&nbsp;[Cool]&nbsp;[Grin]&nbsp;[What]&nbsp;[Gosh]&nbsp;","listText":"To the moon .... buy buy buy&nbsp;[Cool]&nbsp;[Grin]&nbsp;[What]&nbsp;[Gosh]&nbsp;","text":"To the moon .... buy buy buy [Cool] [Grin] [What] [Gosh]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9934031719","repostId":1146787933,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9935742775,"gmtCreate":1663148003697,"gmtModify":1676537214437,"author":{"id":"4097763827236320","authorId":"4097763827236320","authorIdStr":"4097763827236320","name":"BangkokBali","avatar":"https://community-static.tradeup.com/news/f17ddb9914fec9178579e05f9c29afb2","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4097763827236320"},"htmlText":"Bunit Timah will become affordable when sea level rise...","listText":"Bunit Timah will become affordable when sea level rise...","text":"Bunit Timah will become affordable when sea level rise...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935742775","repostId":1146787933,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9935475316,"gmtCreate":1663129110636,"gmtModify":1676537210607,"author":{"id":"4097750438225520","authorId":"4097750438225520","authorIdStr":"4097750438225520","name":"Simonnov","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"4097750438225520"},"htmlText":"Ic","listText":"Ic","text":"Ic","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935475316","repostId":1146787933,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9935460138,"gmtCreate":1663122534924,"gmtModify":1676537208881,"author":{"id":"3577089953267281","authorId":"3577089953267281","authorIdStr":"3577089953267281","name":"Annalz","avatar":"https://static.tigerbbs.com/ffd285ab6189bb61da4b48c3e149eedc","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"3577089953267281"},"htmlText":"Singapore do not care about those people who are not affordable but rich group&nbsp;","listText":"Singapore do not care about those people who are not affordable but rich group&nbsp;","text":"Singapore do not care about those people who are not affordable but rich group","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935460138","repostId":1146787933,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9935485220,"gmtCreate":1663122188060,"gmtModify":1676537208762,"author":{"id":"4112410321254552","authorId":"4112410321254552","authorIdStr":"4112410321254552","name":"blessed_1","avatar":"https://community-static.tradeup.com/news/71622697830d9517eb67a61917d8a95f","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"idStr":"4112410321254552"},"htmlText":"How to change house?&nbsp;[Cry]&nbsp;","listText":"How to change house?&nbsp;[Cry]&nbsp;","text":"How to change house? [Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935485220","repostId":1146787933,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9935485101,"gmtCreate":1663122148803,"gmtModify":1676537208717,"author":{"id":"4123285903151092","authorId":"4123285903151092","authorIdStr":"4123285903151092","name":"iriscoffee","avatar":"https://community-static.tradeup.com/news/5c13a97f445c57d40cff45997e2d21a2","vip":1,"crmLevel":3,"crmLevelSwitch":1,"idStr":"4123285903151092"},"htmlText":"Save enough money and wait for property to crash&nbsp;","listText":"Save enough money and wait for property to crash&nbsp;","text":"Save enough money and wait for property to crash","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9935485101","repostId":1146787933,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":187,"commentSize":26,"repostSize":0,"favoriteSize":1,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.28.3","shortVersion":"4.28.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1146787933"}