As we continue battling the global COVID-19 pandemic, we find out how Singaporeans are feeling about the property market for the second half of this year, in the biannual PropertyGuru Consumer Sentiment Study.
With the property sentiment dipping by four points to 41 in H2 2020, the latest Consumer Sentiment Study is a particularly interesting one, as we deep dive not just into the current moods and attitudes towards property in Singapore, but also surrounding COVID-19.
With the ‘new normal’ of safety distancing and remote working, how have our perspectives on property and hence, our buying behaviours changed? Here’s a round up of our key findings and insights.
Key findings of H2 2020 Consumer Sentiment Study
[guides thumbnail=”https://cdn-cms.pgimgs.com/static/2020/07/HDB-flats-singapore.jpg ” title=”PropertyGuru study: More than half of Singaporeans feel uncertain of future property prices due to COVID-19″] https://www.propertyguru.com.sg/property-guides/propertyguru-consumer-sentiment-study-h2-2020-29486[/guides]
According to the latest findings in the biannual Consumer Sentiment Study, 55% of Singaporeans said they are unsure of future property prices due to COVID-19. Meanwhile, overall Sentiment Index also dipped by four points from 45 in H1 2020 to 41 in H2 2020.
[guides thumbnail=”https://cdn-cms.pgimgs.com/static/2020/07/sunlight-ventilation-balcony-apartment-.jpg ” title=”More Sunlight, Ventilation and Nearby Amenities: How to Pick A Home You Never Want to Leave”] https://www.propertyguru.com.sg/property-guides/sunlight-ventilation-choosing-home-direction-29529[/guides]
As Singaporeans spend more time at home due to COVID-19 measures, proximity to food and beverage outlets and shopping malls and ventilation and lighting have topped the list of features that increased in importance when shopping for a new home during this period.
[guides thumbnail=”https://cdn-cms.pgimgs.com/static/2020/07/condo-facilities-swimming-pool-.jpg ” title=”Condo Facilities: Worth The Service And Conservancy Fee Or Not?”] https://www.propertyguru.com.sg/property-guides/condo-swimming-pool-facilities-price-comparison-29703[/guides]
Swimming pools, tennis courts and fitness gyms are popular selling points of many condos in Singapore, but in our latest study, 82% of respondents said they would consider a property with fewer facilities in exchange for lower property prices and maintenance fees.
[guides thumbnail=”https://cdn-cms.pgimgs.com/static/2020/07/absd-mas-covid-.jpg ” title=”63% of Singaporeans Hopeful for Lower ABSD, MAS Says There’s No Need”] https://www.propertyguru.com.sg/property-guides/css-reduce-absd-mas-cooling-measures-covid-29863 [/guides]
Our study found that many Singaporeans were concerned about housing affordability, with 63% calling for the government to lower the Additional Buyer’s Stamp Duty (ABSD). Tough luck though: The Monetary Authority of Singapore (MAS) has recently said the existing property cooling measures will remain for now.
Previous Consumer Sentiment Studies
[guides thumbnail=”https://cdn-cms.pgimgs.com/static/2019/07/cityscape.jpg ” title=”Consumer Sentiment Study H1 2020: Our Key Findings”] https://www.propertyguru.com.sg/property-guides/consumer-sentiment-study-h1-2020-our-key-findings-23750[/guides]
[guides thumbnail=” https://cdn-cms.pgimgs.com/static/2019/11/12-Affordable-Freehold-Condos-in-Singapore-for-Singles-PropertyGuru-Singapore.jpg ” title=”Consumer Sentiment Study H1 2019: Our Key Findings”] https://www.propertyguru.com.sg/property-guides/consumer-sentiment-index-singapore-h1-2019-20655 [/guides]