Star property prices have turned to a five-year high. The political situation in Hong Kong is unstable.
The Singapore government’s measures to crack down on property market overheating in the past year have not yet been lifted, but private housing prices reversed the decline in the last two quarters in the second quarter of this year and rebounded to a record high in five years, reflecting the widespread view of the Singapore property market as capital security. haven.
Spicy strokes do not hinder buyers entering the market
According to preliminary figures released by the Singapore Urban Renewal Authority (URA) yesterday, the private property price index was 150.5 in the second quarter of the end of June, up 1.3 percentage points from the first quarter. Since last month, Hong Kong’s “reverse delivery" struggle has been very loud. Reuters reported earlier that some Hong Kong rich have begun to transfer some of their wealth to Singapore to avoid the adverse effects of the revision of the Fugitive Offenders Ordinance.
Christine Li, head of research at Cushman & Wakefield Singapore and Southeast Asia, believes that even with the hottest targeting of the property market, the resilience of basic needs is still very good. The rebound in property prices reflects Singapore’s role as an international financial centre. Even if it is plagued by the uncertainties of Sino-US trade frictions, investors’ long-term prospects for the Singapore residential market remain positive.
In the second quarter of the core central region (CCR), the price of high-end private buildings rose by 1.5%, the price of mid-range buildings in other central districts (RCR) increased by 3.0%, and the price of private homes outside the central area (OCR) rose by 0.5%. Christine Li believes that property prices have reversed the decline because developers have paid large land prices to buy land in the past two years, making them less flexible in selling prices.
High-end residential buildings in the Central Central District such as Fenghua Nan’an Mansion and Platinum Residence have stable demand. Other convenient transportation in the Central District has also been favored by buyers such as Ruiya Jiayuan, Sky Everton and Amber Park.
Rahul Sen, head of headhunter Boyden, which serves private banks, points out that at least three clients of wealth management consultancy have decided to move from Hong Kong to Singapore to look for family choices in the past few weeks.
“Reverse delivery" demonstrations have an impact
The Asian News Channel (CNA) reported that some foreign wealth fund managers who are interested in opening investment offices in Hong Kong said that the most important thing for customers is that the investment environment is stable and affected by the “reverse delivery" protests in Hong Kong. Set up a stronghold plan and choose Singapore to open an investment office.
In addition, URA’s HDB resale price index for the second quarter of this year was 130.8, down from 131 points in the first quarter of this year, down 0.2 percentage points. URA will launch two pre-ordered HDB sales activities in the second half of this year. A total of approximately 7,800 pre-purchased HDB flats are available for application.