Higher costs, lower returns: Why are Singaporeans still betting on real estate?

Singapore’s property market has proven resilient, not least over the last decade. Investors, however, should not count on replicating the windfalls of earlier decades. Some experts noted that property’s appeal lies in its tangibility. Prof Yohanes Eko Riyanto, chair of NTU’s SSS and professor of economics, considers this an example of ambiguity aversion: people gravitate towards risks they feel they can understand. But he notes that survivorship bias may shape the narrative of property as a winner, pointing to how people who did well with property tend to share their experience but those who did not usually keep quiet. So, over time, we hear more about wins than losses.

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