Singapore Real Estate - Really?

Property Prices At A Rebound...Finally

The Boon Keng HDB on 40th Floor With An Expansive & Expensive $1M view 

 

I remember when I first relocated from the West to Singapore with my then Singaporean spouse, we were lucky enough to have a roof over our heads due to the good system of affordable government-subsidized housing for the lower and middle income populace.  On the advice of our real estate agent, we bought the lowest priced apartment in the least preferred locale on the island (trust me, even then the location was safe and well served by the island's efficient transport system).  We could only afford a simple unrenovated S$350,000 HDB (government) flat.

 

Fast forward a few decades later, we were able to monetize the flat at a hefty profit, split the difference, which allowed my current arrangement of simple living in and commuting between Singapore, Malaysia and Thailand and reinvesting in small investment properties for passive income.  More on property investment in the latter 2 countries in my later posts, let me opine on the real estate scenario in Singapore island now.

 

I believe it was Li Ka Shing who once said any tiny country in the world situated in a great location is a real estate gold mine.  Why you ask?  Well real estate is location location location, so that takes care of Li's the latter half of his statement.  Singapore is a tiny tiny nation compared to its vast neighbors like Indonesia and further north China.  So land is scarce and hence properties will be pricey.  Hong Kong is yet another prime example.

 

I have always advised my friends back in Europe to invest in Singapore because I am a good resource for them in Asia.  The last few years were doldrum years for properties worldwide - rental and sale of real estate in Singapore felt the heat as well.  But I advise all to start buying when you see your dream home as the rebound is already happening as we speak!  The government is right to say that buying a HDB is a good first step towards financial freedom and independence.  I benefited from a HDB for sure.

On The 3rd Floor & Over 4000sq ft Costing S$16m+

 

The recent Seven Palms Sentosa apartment is another jaw dropper.  Sure it has fun and sun with Sentosa Resort Island in its backyard.  Sure you feel like a million bucks each time you drive home on that private access road over the sea to your abode.  Sure you have the biggest mall in Singapore - VivoCity - within a stone throw away.  But at over S$3700 per sq ft?  Only for the uber rich I say.

 

So things are beginning to stir in Singapore.  Stocks are seeing sunnier days - and we all know property trends with the stock market performance.  I say call your agents and go house hunting if you had been holding out for the great deal.  Mark my words, the next property wave is coming, or may already be here!

 

Read more on the over S$1m Boon Keng HDB Sale

 

Read more on the S$26m Sentosa Island Apartment Sale