Sunday, May 25, 2008
About this Blog
"HOPES that a slowdown in Singapore's property market is temporary are fading, as an uncertain economic outlook and a looming housing glut threaten to plunge the sector into a prolonged downturn. " reported Asia One, 22 May 2008.
Why?
1. Impending oversupply with 66,000 new homes expected to be completed over the next four years, against a forecast demand of 50,000
2. Speculators will dispose of about 700 units on the cheap this year, and another 2,000 next year, as the properties obtain TOP and instalments are due.
I add:
3. Worsening economic situation which may drag the world into a prolonged, severe stagflation. We are faced with threats of an impending US recession which seems inevitable now, soaring oil price and the worst, food shortage.
Market Trends : Prolonged Downturn In Near Future
Why property market will see prolonged downturn"HOPES that a slowdown in Singapore's property market is temporary are fading, as an uncertain economic outlook and a looming housing glut threaten to plunge the sector into a prolonged downturn. " reported Asia One, 22 May 2008.
Why?
1. Impending oversupply with 66,000 new homes expected to be completed over the next four years, against a forecast demand of 50,000
2. Speculators will dispose of about 700 units on the cheap this year, and another 2,000 next year, as the properties obtain TOP and instalments are due.
I add:
3. Worsening economic situation which may drag the world into a prolonged, severe stagflation. We are faced with threats of an impending US recession which seems inevitable now, soaring oil price and the worst, food shortage.
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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.
Smart Buyer :)