Friday, May 23, 2008

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Singapore Population Growth : Hype in the Property Market

That Singapore's population is set to grow to 6.5 million, has been the biggest arsenal that those with vested interest in the Singapore property have been throwing into the property market to justify why property price will go up, perhaps 10 times the 1996's peak. The question is: Is it true? Or has it been over hyped?

Mah Bow Tan, Minister of National Development, explained that the figure of 6.5 million is actually a very long-term guide, spanning up to 50 years.

Speculators buying into properties for enbloc potential may need to rethink if the price they're paying for that old, run down property is really worthed that much.

Mr Mah said: "There's really no urgent need for us to drastically change all our plot ratios or up the intensity of all the various parcels of land that we have.
We've been doing this gradually over many years. There has been a review of various plot ratios in every Master Plan and we've gradually and steadily reviewed the intensity and use of each of these plots. It's not something that we need to do across the board at this point in time, based on the reviews that we have done."


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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.

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