Wednesday, May 21, 2008
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This is true also for the property market. With the current global economic crisis and the acute domestic inflation, home buyers are likely to turn towards the more affordable basic housing provided by HDB, rather than pay steep prices for private condominiums.
Hence we continue to see over-subscription for HDB's BTO queue, while private property sales falls to its lowest volume since the 2003 - SARS period.
Judging from this trends, prices of HDB flats are likely to continue to climb, while that of private condos will fall. It's a trend one would expect to see for a while until the price gap between the two property segments narrows to a more reasonable level.
HDB & Private Condos Price Trend in Opposite Directions
Under the pressure of acute inflation and deteriorating economic situation, people will generally channel their resources increasingly towards essential goods, while cutting their spendings on luxurious goods.This is true also for the property market. With the current global economic crisis and the acute domestic inflation, home buyers are likely to turn towards the more affordable basic housing provided by HDB, rather than pay steep prices for private condominiums.
Hence we continue to see over-subscription for HDB's BTO queue, while private property sales falls to its lowest volume since the 2003 - SARS period.
Judging from this trends, prices of HDB flats are likely to continue to climb, while that of private condos will fall. It's a trend one would expect to see for a while until the price gap between the two property segments narrows to a more reasonable level.
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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 :)