Barclay’s survey shows Singapore’s wealthy optimistic about property prices

A survey by Barclays Wealth and the Economist Intelligence Unit found Singapore´s wealthy among investors around the globe optimistic about value of their properties to rise in the next cuople of years, reported Bloomberg.

The survey taken in months of August and September show that 53 per cent of Singapore investors predict prices to increase compared to 49 per cent of global respondents. Also, the survey included 2,000 people with a investable assets of more that US$800,000.

According to Bloomberg, chief executive of Barclays Wealth Asia Pacific, Didier von Daeniken said: ““While it can be tempting to seek refuge in property as a safe haven, investors must be careful to avoid overexposure to an asset class that has traditionally proven to be susceptible to economic cycles.”

The survey showed that Singapore investors have plans to raise their property investments from the current average 25 per cent of their portfolio.

The most optimistic among the investors were from Canada and India according to the surveywith 55 percent and 56 percent, respectively, expecting price increases.

SOURCE: Property Report