According to the latest H2 property report by iProperty, 45% of the survey respondents this year felt that their annual income is insufficient – a 10% increase as compared to 2014’s 35%.
20% of the 2,808 participants surveyed online between July 15 and August 15 this year revealed that they do not earn enough salary to purchase a house and the majority 47% of them are not interested at buying a property at the moment. A 48% majority find Singapore housing still unaffordable and according to SC Capital Partners, prices still need to drop further by 30%. Of all the overseas properties, Australia is Singaporeans’ top choice at the majority of 24%.
The findings contrast with the ruling party PAP Ministers’ claims that housing in Singapore has become affordable and indicated that cooling measures are still insufficient. However, property developers with vested interests are calling for the Singapore government to lift cooling measures and even threatened that the housing market may soon collapse.
You may view iProperty’s survey report here.
Singapore Property Developers: Singapore housing market may collapse