Firstly, the affordable housing (Public Housing) market remains the core sector of the Singapore real estate market. The Housing Development Board (HDB) continues to offer various types of condominium projects to cater to different income levels. The Government helps home buyers realize their dream of owning their own homes through subsidies and loan schemes. In recent years, the government has also stepped up its efforts to build affordable housing to ensure that more people can enjoy stable housing conditions.
Secondly, the Government has adopted a series of measures to curb investment in home ownership. For example, the introduction of the Additional Buyer's Stamp Duty (ABSD) has made buyers of second and larger homes subject to additional taxes. In addition, the Foreigners' Home Purchase Restrictions (FHPR) impose certain restrictions on foreign buyers' home purchases. These policies are aimed at controlling investment home purchases in order to protect the housing needs and rights of local residents.
In addition, sustainable development has become a major concern in Singapore's real estate market. The government encourages developers to adopt environmentally friendly and sustainable designs to promote green building. Through measures such as reducing resource consumption, improving energy efficiency and utilizing renewable energy, Singapore's construction industry is moving towards a more environmentally friendly and sustainable direction. The Government also offers incentive schemes to encourage residents and businesses to adopt renewable energy and sustainable technologies in their real estate projects.
In addition, the real estate market has shown some positive signs in recent years. Home prices have risen steadily and transaction activity has increased. In particular, the high-end residential and luxury condominium markets are sought after by both domestic and international buyers. This reflects Singapore's attractiveness as a major financial and business center, as well as the demand for high-quality housing.
However, a number of factors could still pose challenges to the real estate market. Uncertainties in the global economic situation, changes in interest rates and adjustments in government policies may have an impact on the market. Buyers and investors therefore need to remain vigilant and make informed decisions based on market dynamics.
In conclusion, Singapore's real estate market is stabilizing and moving in a more sustainable direction. The government has implemented various policies and measures to ensure the supply of affordable housing, curb investment buying and promote green building. Although the market still faces some challenges, Singapore's real estate market still has potential as prices steadily rise and transaction activities increase. Buyers and investors need to monitor market developments closely and make informed decisions to meet their needs and manage risks.
