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The other 18% of the population rely mainly on the high-end private housing market, almost completely led by the market. The private residential market in Singapore is mainly condominiums and homes with land titles, such as villas, and the population is mainly high-income people. The profit rate of real estate developers varies according to the operating conditions of the companies.
However, Fu Yuming, deputy director of the School of Design and Environment at the National University of Singapore, pointed out to the â€œInternational Herald Tribuneâ€ that Singaporeâ€™s private residential market can be said to be a completely competitive market. Overall, developers do not monopolize profits. A rough estimate, the profit rate is not less than 15%, which is basically the return on investment of developers willing to enter the market.
Private housing prices vary according to the location of the site. For example, for a lot of S$10,000 (a Singapore dollar equivalent to RMB 5.3) per square meter, the construction cost may be S$2,000 and the land price will account for 60 to 70%. The government's supervision of the real estate market is mainly to ensure that the market is fully competitive and that developers are unlikely to earn monopoly profits.
In the global economic crisis, economic stimulus programs launched by countries around the world have also caused the Singapore real estate market to heat up. The Singapore government has launched four rounds of cooling measures to control the surge in housing prices since September 2009. Initially, it mainly increased the down payment ratio, etc. Means, but the effect is not obvious. In January this year, the government introduced the fourth round of measures, raising the maximum stamp duty from the original 2% to 16%, and at the same time increasing the percentage of second-home down payment for unsettled mortgages to 40%.
According to the Residential Housing Price Index of the National University of Singapore Institute of Real Estate, the housing market in Singapore began to stabilize from the second quarter of this year. Deng Yongming, dean of the National University of Singapore Real Estate Research Institute, said that real estate speculators are looking at the real estate market's expectation of future property appreciation, and the government's more ambiguous measures have made the market see its determination.
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