Chart of the Day: Almost half of Singaporeans think property prices are still too high

Inability to get loans is also a major issue.

In spite of steady declines in both public and private residential property prices, majority of homebuyers still think that property prices are too high, a survey by CLSA revealed.

According to CLSA, 48% of respondents are not buying property because of high prices, while 29% are simply not looking for new properties.

8% of respondents are not buying because of their inability to get loans or downpayment capital, while 9% believe that properties are no longer attractive investments or are expecting prices to fall.

Meanwhile, the potential pool of buyers is growing, with 29% of respondents claiming that they are looking to buy properties in the next 12 months.

“This implies that most potential buyers are being deterred for one reason or another. The main obstacle is the price of property. The inability to get a loan or fund the downpayment is also a material issue,” said CLSA.