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Smaller but dearer
- Thread starter ginfreely
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https://www.todayonline.com/singapore/new-private-homes-could-cost-s2900-psf-2030-dbs-report?cid=emarsys-today_TODAY's morning briefing for May 17, 2018 (ACTIVE)_newsletter_17052018_today
Published16 MAY, 2018
UPDATED 17 MAY, 2018
New private homes could cost up to S$2,900 psf on average by 2030: DBS report
By ANGELA TENG
SINGAPORE — Projecting the population here to hit 6.3 million to 6.5 million by 2030, a research report released by DBS on Wednesday (May 16) forecasts new private homes to cost between S$2,300 and S$2,900 per square foot (psf) by then – sharply higher than the current S$1,500 psf.
This means a compound annual growth rate of 1.5 per cent to 3.2 per cent over the next 12 years as growth in homeowners' incomes "keep pace" with the rise in private-property prices. The projection means an average unit of private property will cost from S$1.9 million to S$2.5 million by 2030.
The report, by property analysts Derek Tan and Rachel Tan, also projected the average size of new private units to shrink to 840 sq ft by 2030, 20 per cent smaller than the 1,083 sq ft average last year.
Other analysts, however, felt the price increases projected were too optimistic and that much depends on social and economic conditions in the run-up to 2030.
The DBS report expects annual volume of transactions for private homes to stay above the historical average for the next 12 years – reaching between 13,000 and 16,000 units until 2023, before tapering to an average of 12,000 to 13,500 units.
The demand could be even higher, said Mr Tan and Ms Tan, who did not take into account units that could be bought by foreigners. From 2001 to last year, the historical annual average stood at 12,000 units.
HDB upgraders will be a "key driver" for demand, and a "wildcard" would come from property-buying foreigners, who could boost the total number of transactions by up to 10 per cent, the DBS analysts said. New families will also contribute to demand for homes.
Published16 MAY, 2018
UPDATED 17 MAY, 2018
New private homes could cost up to S$2,900 psf on average by 2030: DBS report
By ANGELA TENG
SINGAPORE — Projecting the population here to hit 6.3 million to 6.5 million by 2030, a research report released by DBS on Wednesday (May 16) forecasts new private homes to cost between S$2,300 and S$2,900 per square foot (psf) by then – sharply higher than the current S$1,500 psf.
This means a compound annual growth rate of 1.5 per cent to 3.2 per cent over the next 12 years as growth in homeowners' incomes "keep pace" with the rise in private-property prices. The projection means an average unit of private property will cost from S$1.9 million to S$2.5 million by 2030.
The report, by property analysts Derek Tan and Rachel Tan, also projected the average size of new private units to shrink to 840 sq ft by 2030, 20 per cent smaller than the 1,083 sq ft average last year.
Other analysts, however, felt the price increases projected were too optimistic and that much depends on social and economic conditions in the run-up to 2030.
The DBS report expects annual volume of transactions for private homes to stay above the historical average for the next 12 years – reaching between 13,000 and 16,000 units until 2023, before tapering to an average of 12,000 to 13,500 units.
The demand could be even higher, said Mr Tan and Ms Tan, who did not take into account units that could be bought by foreigners. From 2001 to last year, the historical annual average stood at 12,000 units.
HDB upgraders will be a "key driver" for demand, and a "wildcard" would come from property-buying foreigners, who could boost the total number of transactions by up to 10 per cent, the DBS analysts said. New families will also contribute to demand for homes.
Typical talking cock, 12yrs frm now they can predict prices, shld sent em to teach Ho Ching on investment.
according to jo, less space for sex but still doable.
It is why I love Sammyboy forum above all others. We have fine minds here.
Actually it’s easier to predict $2900 psf 12 years from now than to predict next year price. Inflation mah isn’t it? When i bought my condo at $600 plus psf two decades ago it was overpriced but now also can’t find this price due to inflation of land costs. Salary also went up from two decades ago. Hawker centre prices also. Everything is more expensive than two decades ago.
Another piece of rubbish malicious liar caught calling others disgusting. Pui!
I regret that my earlier thread ended up here after being merge. I exercise my right to avoid being associated with you because I came to terms and acknowledge that your behaviour is disgusting. You are just trying to chase people away from here.
I will avoid replying to your threads in courtyard, it is just unfortunate that our paths crossed because of the merger, so i deleted the contents to avoid pissing u off. But looks like you want to be confrontational, then just do everyone a favour, stop repeating your vulgarities.
840 sf in 2030 is still bigger than HDB 3 room flat and 2 room flat now. Definitely doable for raising families!
You are a malicious liar caught telling malicious lies of me deleting an uncle from contact list to move on. Period.
Obviously you are telling lies when all I did tonight is to highlight the truth that banning nicks doing sexual harassment would be highly dissuasive as what French lawmakers agreed.
Serves you right!
:p
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