WOW Singapore property prices are expected to double by 2030 according to a Morgan Stanley report by CNBC.
A couple of key points from the Morgan Stanley report
- Morgan Stanley forecast Singapore home prices should begin to rise in 2018.
- The bank expected Singapore home prices would double by 2030.
- It anticipated a larger number of single-person households would drive home sales.
For the first point where prices were expected to rise from 2018. From a price performance perspective, the prices decline seen in 2014-2016 wouldn’t continue forever. Factoring a loosening of the Singapore government property cooling measures in the first quarter of 2017, the forecast for prices to rise in 2018 seems reasonable.
On the second point where Singapore home prices will double by by 2030. That is exactly 13 years from today. Prices has risen than 100% from 2007 to 2013 in approximately 7 years. So in 13 years time, maybe we will see through another 1-2 property cycles of boom and doom.
More single homes in the last point refers to the characteristics of the aging population and the delay of marital age. More individuals are choosing to remain single and changing the state of the family nucleus. Plus the aging nature of post war baby boomers who help built the young Singapore as nation would be way past the 80 or 90 years old of age in 2030.
Would Singapore property price double by 2030?
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