75% of S'pore home buyers delaying property purchases

75% of S'pore home buyers delaying property purchases

    POSTED: 20 Aug 2013 5:49 PM

74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline.

SINGAPORE: 74 per cent of Singapore home buyers are delaying their property purchases, and 59 per cent of the respondents surveyed are confident prices will not decline.

According to a recent survey conducted by property website iProperty Group, 60 per cent of the Singapore respondents have called for additional cooling measures. This compares to 27 per cent who do not want further cooling measures.

The portal said 68 per cent of respondents surveyed prefer new launches, compared to 22 per cent opting for resale units.

51 per cent of buyers are purchasing homes for long-term investment, up from the previous survey's 30 per cent .

Condominiums remain a popular option, with 68 per cent interested in private condominiums, 35 per cent in HDB flats and 16 per cent in terrace houses.

Meanwhile,.iProperty said the survey of 2,825 Singapore respondents revealed that most owners remain confident about value protection and are generally not expecting declines.

More Singapore home buyers are also considering overseas property investment, increasing from 38 per cent in 2012 to 40 per cent in the recent survey. Iskandar Malaysia is the most commonly cited overseas option, with 59 per cent of home buyers having considered the option.

Separately, the survey found that consumers in Malaysia, Indonesia, Hong Kong, and Singapore continue to view affordability of homes as a major concern, despite the cooling measures introduced by the various governments in Asia.

The regional survey attracted close to 30,000 respondents, with the majority between 26 and 50 years old. 

- CNA/ac

- wong chee tat :)