The recent winner of the Singapore IT Federation's "Best E-Enterprise Company 2010 Award", the Singapore Venture Capital Association's "Best Performing VC-Backed Company 2010 Award", and as listed in Marketing Magazine's "Top Ten Digital Media of the Year", PropertyGuru.com.sg is making strides in the local property market. They recently released the 4Q Sentiment Survey, which is conducted quarterly by PropertyGuru and Pulse Group PLC to better understand buyer intentions and media consumption.
PropertyGuru's 2010 4Q Sentiment Survey Results
Around 3,200 participants took part in the survey that was conducted during a nine day period in October of this year. Some positive feedback was established in the Q4 report. For instance, the survey reflects that 71% of respondents feel all property in Singapore is expensive, however, the figure is down 5% from the Q2 report . Furthermore, it reveals that 42% believe commercial property is now affordable.
“Year 2011 will still be a sellers’ market, with a strong demand for private property. There is a trend among private property investors shifting their interest from residential markets to commercial markets. The cause for the shift could be due to the government’s efforts to control the residential market," stated Mr. Steve Melhuish, CEO and Co-Founder of PropertyGuru, in a December 10, 2010 media release. With the latest property cooling measures introduced by the Singapore Government in August of 2010, 38% of survey respondents are now more positive about the government's role in controlling housing prices.
Buying Behavior in Singapore
Buyers in Singapore have one key influence that differs from buyers in other countries when it comes to making big purchases: their parents. The recent survey reflects that 67% percent of buyers let their parents make the final decision when it comes to property.
It is no surprise that additional investment behavior includes the top buyer motivation of price, location, capital appreciation and rental yield. The survey continues to reflect that 33% of respondents will not purchase property in Singapore because of the high prices, however, 22% are interested in upgrading to more expensive property, with 80% considering taking out a loan in order to upgrade.
Furthermore, the Q4 survey also covers a forecast on property prices over the next year, demands of overseas investments, other important factors when determining purchases, and overall property concerns. PropertyGuru.com.sg, which is run by AllProperty Media, is viewed by over 1.7 million people a month. Related sites run by AllProperty Media include CommercialGuru.com.sg and LoanGuru.com.sg.
Julie Maggiacomo Carrera - Julie's writing career began back in college in the 1990s. However, she considers herself a new writer since she has put this profession ...
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