The recent pick-up in residential sites acquired by property developers in Singapore suggests that they have finally come around to the prospect of a more decisive recovery in Singapore’s residential market, and the downside of a depleting landbank.
Despite earlier concerns of gung-ho foreign developers crowding out local developers for residential sites sold by the government, Singapore developers are coming out in force in the collective-sale market and other private land deals.
Will this pose an increase in prices in the near future since developers will be competing against one another for the land thus land prices will be adjusted resulting in future per unit price to head south?
This cycle has been witnessed multiple rounds in the entire real estate market cycle, yet many consumers are still doing the wait and see approach. Likely because they are not on field to actually understand how the market sentiment is and approach their purchase or sale through purely emotions.
Indicators like this article is a warning signs how Singapore property prices will look like in the near future.
What do you think?
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