Since Singapore’s new development condo real estate property market has improved dramatically, there’s a huge resurgence of investors making their way back into the condo real estate market. Especially along Prime River Valley Road where 8 Saint Thomas is. Why is this so? There was a huge boost in investment property prospects ranks throughout Singapore. Ultimately, the reason why there was a huge boost is simply because the market is doing better and bottoming out, but even with the market doing better, those ranking was still at the bottom in 2017. Those investment prospect rankings that were so low, are now elevated to the third place in the Singapore condo property market. This has brought back many foreign investors targeting top luxury condos like 8 Saint Thomas at 8 Saint Thomas Walk.
The emerging trends for resurgence
Well, the trends show throughout Singapore in the new development condo market that the sentiment in the rather large resurgence of 2018, is due to the fact that major developers are ready to take on the stabilizing real estate market and this is why they are coming back to the real estate condo property market, so they can invest now before it’s too late. However, some may think that this resurgence is premature, although the market is on the upturn, they’re not certain if it’s too soon to be making any kind of significantly large purchases for investment property, despite the investment prospect rankings for 2018.
The new development – PRIME residential condo sector
The new development condo real estate sector is on the upturn, but its showing imminent signs of a boosted recovery with rising investment transactions for condo property for the first time in the past 4 years. This is also why there has been such a price hike in the new condo development market. Especially those high-end luxury projects in and around Orchard Road and River Valley. Amid the rise in investment transactions, the sales of investment sites to ambitious developers has somewhat put a limit on the supply of investment property and developers want these land sites so they can bring more real estate investments to the market and ultimately gain through these investments.
What about the market rebound?
The rebound for the new condo development housing market is a sustainable market and seems likely that it’ll remain that way for the immediate future, but with forecasts in the condo property market shows it’s likely it will remain sustainable further than what is predicted, which is sustainability up to 2030. Many developers have been actively buying prime district sites around Singapore (River Valley Road in particular) and elevating the property site auctions because these land bank sites are in demand locally. These elevated auction prices of land for newly developed condo real estate significantly rose since the beginning of 2017.
The new developed condo private residential market rebound could be due to the partial cooling measures of the government. Since this may be the case, the cooling measure have eased the seller’s stamp duty during the end of February. It may have done less to help new condo developer investment funds, but there is a slight advantage to the eased of seller’s stamp duty, because the extra funds applicable to the seller may ultimately show a larger boost on return in the investment properties. This is why there is a large resurgence of property development investors in the 2018 new condo property market moving forward.