Elections to have muted effect on property market: JLL

Politics won’t greatly impact asset prices.

The outcome of Singapore’s upcoming General Election will not have a significant impact on the city-state’s underperforming property market, according to Chua Yang Liang, Head of Research, Southeast Asia at JLL.

Chua said that although he possibility that the government will tweak some property cooling measures in order to attract investors is not yet off the table, policymakers are still waiting for a substantial correction in property prices before loosening their grip on cooling measures.

Analysts are also on the lookout for a possible of loosening of immigration policies, but Chua said that policymakers will be constrained by the need to balance economic growth and employment prospects for locals.

“As we head into the elections, if you look at the what's the impact on the property market, it will actually be quite muted,” Chua said.

"At the end of the day, property values are a reflection of the asset itself and to some extent the quality of the surrounding neighborhood. So whatever the result of the election, it still depends on what the deliverables are such as how well-maintained the asset is,” he added.