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The past couple of yeas have been good years for the Singapore property market, before the recent "cooling" measures taken by the Singapore government. This article can serve as an update to those already within the Singapore Property Market or are looking to go into the market.

Some analysts noted that while the market has remained resilient despite government's cooling measures, it appears to be near the tipping point. A recent report by UBS predicts that home prices in Singapore might fall between Ten to fifteen per cent in the next 12 months.

There may be a couple more valid causes of the gloomier prospects:

1) The uncertainty in Singapore's economic growth due to the global situation
2) The slowing population growth because the government moves to tighten immigration laws.

These factors could cause foreign buyers to step back, dampening the resale market activity.

The other way of thinking is property agents and also require a stronger feel from the market than research analysts. Sales for that first 1 / 2 of 2012 alone shifted 11,928 units. Store bought homes dominated sales in the quarter with 3,737 units or 69.2 per cent of new home sales recorded in the Outside Central Region (OCR). The top selling mass-market projects were Ripple Bay, Flo Residence and Palm Isles shifting 568, 324 and 306 units respectively.

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The reason might be as follows: Implementation from the Additional Buyer's Stamp Duties (ABSD) in December 2011 had caused foreigners to stay away from prime areas. Since its implementation, a clear, crisp decrease in foreign demand for private residential properties was observed. Therefore, made properties within the suburban mass market segment more desirable to HDB (Housing Development Board) upgraders who buy with a longer term perspective.

Looking ahead, the record supply in the pipeline could further assistance to alleviate any pent-up demand in the Outside Central Region, thereby preventing spikes in property prices. Within the mid to long term, strengthening global economies would also boost investor sentiment, leading to a gradual recovery of Core Central Region and Remainder of Central Region prices.

Ultimately, the health of the Singapore property market relies upon the purchasing power Singapore citizens. As long as proper measures are taken through the relevant authorities to prevent shortsighted investments from leading the marketplace, coupled with a scarcity of declining long-term global outlook, the Singapore property marketplace is definitely a great way to go for growing financial wealth.