Property News & Market Trends

The F1 saga & how it will affect property prices

One thing's for sure, it is a boost to the tourism industry. So, how can it affect the property prices if the circuit doesn't run through your estate? That's seems to be a ridiculous suggestion, isn't it?

Think again. The F1 is watched by more than 150million audiences worldwide, particularly in Europe. And what's the percentage of foreign investment in Singapore properties from Europe? Less than 5% of total foreign investment.

This F1 event is going to make this little red dot brighter and harder to ignore. If the government is smart enough to cash in on the publicity after the show, it can mean a higher influx of foreign funds and interested parties making a beeline to our shorelines thereafter.

With the IR making big waves and the F1 causing a tsunami of publicity, Singapore can look forward to a continuous stream of property seekers.  Obviously, the high-end and prime properties will profit from the new interest generated by our vibrant showcase.

This F1 is the appetitiser for the main course - the IRs. But then again, what happens after? It's anyone's bet but meanwhile it'sdefinitely a good ride for many.

Just a word of caution - watch the spike. A number of asking prices in certain areas have gone up by more than 15% in less than 3 months! It's incredible. Agents are complaining that sellers are never satisfied with their own asking prices and raise them even ater buyers were found. If buyers can't resist the urgency, the market will take a breather. If not, the spike will continue.

If it contiunes, which property market can sustain a price increase of 8-10% per month for the next 7 months? None. The tables are bound to switch if prices escalated beyond buyers' means.

Be prudent. Be contented. Be decisive. - Danny 'Bingo'

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