The 8th iProperty.com Asia Property Market Sentiment Survey Report for the second half of 2015, revealed that the effects of the cooling measures implemented in 2013 continues to be seen in the current market, further fuelled by more stringent loan restrictions.
- As affordability continues to remain a major concern, respondents are calling for the government to urgently address the issue of affordable homes in the country
- Shift in the motivation to purchase compared to H1, from long term investment to affordability of homes
- Delayed intention to purchase a property by 1 to 2 years due to high property prices, difficulty in finding a property that is affordable and the inability to place a down payment
- Lack of affordable housing has led to an increase in demand for higher priced property compared to last survey
- Implementation of the GST has increased cost of living between 5% to 10%