Sunday, May 18, 2008

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Singapore Property Crash for 2-3 years ?

Posted by: The koyok man
Posted: 17-05-2008

The koyok man here has been doing investments in property for the past 15 years and so far have never been wrong in his predictions.

Seems like the optimists including the dried cuttlefish seller be needing koyok soon for their severe headaches by the end of this year. My projections are all coming true one by one.

Now, guys you all must be careful of developers this time. They can claim that they break record-prices for their units but the truths are hidden..they can sell their units to previous enbloc sellers, their family members or close friends or company staffs at huge rebates. This is an age old tactic which I am so familiar of since day 1 when I started investment in property. Singapore property market is based on speculation. Its not a stable market. It will be the first alongside HK to crash in Asia cause property demand is actually illusion and not real. Property developers and agents are the actors on stage creating the scenario of a hot market when actually it was not there last year. Just look at Scotts Square, it claimed to break record prices at $4000psf but until now there are 50% units still unsold ? Does this signify a market based on demand.

Singapore property will be crashing end of this year. If it doesnt crash, it will be severe downturn which will bleed owners of existing condos. Either they bleed or they sell their condos at huge discounts...This downturn is going to last for 2-3 years or even longer. Reason why? Oversupply of condos and slump in rentals due to recession. US, China, Japan and Europe will slowdown for sure end of this year..Singapore not slowdown ? It cant be possible unless Singapore is located in another planet.

Its so clear cut...everyone knows whats coming ! Be prepared


Sean said...

Singapore is definitely in a property bubble.
The collapse is going to be devastating..

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