iProperty.com, Asia’s arch arrangement of acreage portals and buyer of Singapore’s No. 1 acreage and absolute acreage website, iProperty.com Singapore, today apparent the after-effects of its online Asia Property Trends Survey 2008. The Survey appear the affairs habits and trends of abutting to 1,000 bounded and across acreage buyers who visited iProperty.com’s Singapore website, iProperty.com.sg amid August 1 and August 31, 2008.
Given the ambiguous bread-and-butter outlook, respondents’ expectations with commendations to Singapore acreage prices was mixed, with 42% assured prices to access and about the aforementioned amount (41%) assured prices to decrease. However, a lot of respondents still beheld acreage as an adorable investment advantage with the abeyant accumulation from basic appreciation, acquiescent rental bearing as able-bodied as the solid and safe attributes of acreage investments as the top three factors for advance in property.
With the bang in the acreage bazaar which began in 2006 and consecutive sky-rocketing prices till aboriginal this year, it was no abruptness that a majority of respondents had not purchased acreage aural the endure 24 months. However, the contempo stabilisation in acreage prices has resulted in bigger chump affect with about 85% advertence that they intend to or may acquirement acreage aural the next 12 months. To accounts their property, a majority (73%) were analytic for a top allowance of costs in the 60-99% range, acceptable to be attributable to the adorable case accommodation bales currently available.
Residential backdrop were top on respondents’ ambition list, abnormally completed clandestine condominiums and landed property. Whether respondents were analytic to acquirement acreage for claimed use (46%) or for investment purposes (48%), it was bright that the old adage “location, location, location” was the top a lot of agency if because a property. Coming in additional and third were amount and abeyant rental crop respectively. Given that area was such a cogent agency in the controlling process, it was no abruptness that 70% of respondents were begin to alone ambition to buy a acreage afterwards physically analytical it.
In addition, 54% of respondents adumbrated that they capital to acquirement their next acreage in Singapore. This was a cogent abatement from endure year’s after-effects which saw bounded acreage absorption at a top of 78%. This implies that across acreage investments are acceptable added adorable to Singapore acreage hunters.
The analysis aswell common the growing accent of the Internet (54%) against added acceptable mediums such as bi-weekly classifieds (26%) as the primary agency of analytic for properties. 54% of respondents aswell adumbrated that they relied on the internet a lot of for updates on backdrop for sale. A growing amount of humans were aswell begin to use the internet to analysis for acreage bazaar trends and accumulate added advice about acreage developers. The time-savings offered (27%) and affluence of use (30.5%) were begin to be the top affidavit for online acreage searches.
Patrick Grove, Executive Chairman of the iProperty.com Group said, “The internet is fast acceptable the a lot of adopted way for humans to activate their antecedent seek for properties. It is actual advantageous for humans who are analytic to shortlist a few backdrop afore authoritative a cruise down to appointment the absolute site. The Google Map action and basic tours accessible on iProperty.com websites aswell helps accord acreage buyers a bigger angle of area the acreage is amid and what it looks like. Another audible advantage of the Internet is that it aswell allows investors to appearance across backdrop after accepting to leave the country.”
In band with the slowing down of the economy, a majority of respondents were analytic at backdrop below the US$500,000 (S$700,000) amount range, with 48% analytic for acreage aural the ambit of US$110,000 (S$154,000) to US$500,000 (S$700,000).
“Even admitting humans are agog on advance in property, we can see that the bearish bread-and-butter angle has resulted in investors analytic at added bourgeois acreage choices. The abolishment of the deferred transaction arrangement aswell places limitations on the types of backdrop humans can now acquiesce to purchase,” Grove added.
About iProperty.com Singapore
iProperty.com Singapore is the country’s No.1 acreage and absolute acreage website with added than 200,000 accepted and annal acreage listings. Working with added than 1,500 absolute acreage agents, iProperty.com hosts the better and a lot of absolute online database of backdrop for auction and hire in Singapore.
About iProperty.com
The iProperty.com Group is Asia’s No. 1 online acreage group, with arch acreage websites in Singapore, Malaysia, Hong Kong and Philippines. It is allotment of Australian Securities Exchange-listed IPGA Limited, (ASX: IPP). Recently, the iProperty.com Group fabricated history by acceptable the awful celebrated CNBC Asia Pacific Property Awards in the “Best Property Portal” chic for 4 of its websites – Singapore, Malaysia, Hong Kong and the Philippines.
iProperty.com Network:
Malaysia: iProperty.com.my
Singapore: iProperty.com.sg
Hong Kong: GoHome.com.hk, House18.com
Taiwan: VRHouse.com.tw
India: RealAcres.com
Philippines: iProperty.com Philippines
Events: iProperty.com EXPO
Luxury: iLuxuryasia.com
Press Contact:
Chris CheungLorong
iProperty.com
6 Toa Payoh
HDB HUB (East Wing)
Singapore
(65) 98428922
chris@iproperty.com http://www.iproperty.com.sg
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