Pursuing value

SEVERAL rounds of property cooling measures have taken some wind out of the market's sail. Notably, Singapore's private residential property transactions have fallen to levels last seen during the global financial crisis. It is hardly surprising then that discussions at recent industry conferences have centred on when the government will lift at least some cooling measures.

While government policy remains a wild card, several property experts and economists have pointed out that the long-term fundamentals remain sound. Among them was Song Seng Wun, executive director and regional economist at CIMB Research, who posits that rising wages, a full employment situation and a growing resident population bode well for the property market.

Recent studies still show that real estate remains a favoured asset class among common investors, high net worth individuals (HNWIs) and corporates.