Cooling measures impact Singaporeans’ home-buying

A quick online poll by iProperty.com shows that more than half of 104 respondents in Singapore favoured a housing policy that would involve lowering prices for new flats and a re-evaluation of asset enhancement policies.

29 percent supported the idea that permanent residents should be required a longer minimum occupation period of eight years in order to give more priority to Singaporeans.

19 percent, however, believed that Singapore homes are within means and of good quality in comparison to cost.

The poll was conducted over a one-week period from 28 April 2011 to gauge public response to the government's measures to cool the nation's property market.

Also, iProperty.com's Consumer Property Sentiments Survey 2011 had the following results:

1. 59.2 percent of survey respondents say that they are affected by the cooling measures, and are either modifying their property buying/selling/renting decisions accordingly, or are halting plans to buy/sell their properties at this current moment.

2. 58.4 percent of survey respondents either do not think or are undecided whether the measures will succeed in cooling Singapore's red-hot property market.

3. 58.7 percent of survey respondents do not think that these measures are sufficient to stabilisepublic housing prices and stated their hopes for more to be done to improve the situation.

Over 470 respondents comprising Singaporeans, permanent residents and expatriates took part in the online survey from 27 Dec 2010 to 25 February 2011. The majority of survey respondents fell between the age group of 25 to 54 years, with 71.5 percent earning an annual household income of S$140,000 and below.Most of them are currently living in HDB flats, private apartments and landed property, of which more than half currently have plans to purchase/rent their next property.

Shaun Di Gregorio, chief executive officer of The iProperty.com Group, said of the results of the survey, "Housing policies and other property-related issues are arguably one of the key buzz topics of the upcoming General Elections. From this survey, there are indications that Singapore home buyers are looking forward to additional measures to bring about significant changes in the policies governing the local property market so as to further cement their decision-making process."

For the most authoritative and comprehensive listing of properties for sale or rent, go towww.iProperty.com.sg
For more property news, real estate reports and celebrity home features, head towww.iproperty.com.sg/resources