Saturday, July 26, 2008
About this Blog
There is a distinct possibility that we are at the start of a deeper multi-year correction, which makes buying in the near future a bad idea.
Prices on the back of 2006-2007 rises are unsustainable even with a 10-20% fall back. Supply was low (then), but it is rising. Singapore, and the world, economy was blistering, but now slowing. DPS and rising prices encouraged inflows of hot money into property sector (then). That has now gone.
The higher and faster you rise, the more unstable those prices are, and how very high and fast prices had risen!
Mass market homes are not immune. They too had risen significantly last year. Some of this was due to the 'overflow' effect of buyers from prime regions being outpriced to cheaper regions. Now that prime regions are coming down, and may have lots more to fall, I'd expect mass market to suffer too. Of course, mass market buyers are also price and economy sensitive.
Bad times don't last forever, but we may be in for a global downturn after the multi-year global multi-year boom. Economic benefits of IR may be a mirage, especially if it fails to bring in sufficient tourists amidst weakening economies, more expensive travel ad hotel costs, and competition from regional casinos.
Posted by Anonymous at the Singapore Property Forum.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase
Private Property Price into Deep Multi-year Correction?
How deep does this rabbit hole go?There is a distinct possibility that we are at the start of a deeper multi-year correction, which makes buying in the near future a bad idea.
Prices on the back of 2006-2007 rises are unsustainable even with a 10-20% fall back. Supply was low (then), but it is rising. Singapore, and the world, economy was blistering, but now slowing. DPS and rising prices encouraged inflows of hot money into property sector (then). That has now gone.
The higher and faster you rise, the more unstable those prices are, and how very high and fast prices had risen!
Mass market homes are not immune. They too had risen significantly last year. Some of this was due to the 'overflow' effect of buyers from prime regions being outpriced to cheaper regions. Now that prime regions are coming down, and may have lots more to fall, I'd expect mass market to suffer too. Of course, mass market buyers are also price and economy sensitive.
Bad times don't last forever, but we may be in for a global downturn after the multi-year global multi-year boom. Economic benefits of IR may be a mirage, especially if it fails to bring in sufficient tourists amidst weakening economies, more expensive travel ad hotel costs, and competition from regional casinos.
Posted by Anonymous at the Singapore Property Forum.
May also want to read:
History of Singapore Property 1960 to 2008
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
HDB Resales: West Sees Highest Price Increase
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1 comments:
ALL REAL ESTATE AGENTS! BEWARE!
BRAVO BUILDING AND CONSTRUCTION PTE LTD
71, LORONG 23. GEYLANG.
DIRECTORS PANG YEE HONG
POH CHING YEE
CHOO CHOON (RESIGNED 2003)
YEO ENG TIONG (RESIGNED 2005)
COMPANY SECRETARY ALICE YIP SIEW HAR
Bravo Building and Construction Pte Ltd will not pay commission to Agents for selling their properties.
Agents who have worked for them are now still waiting, after two years, to be paid!
Likewise, they have re-registered a new company Abacus Development Pte Ltd to sell their new apartments launched recently……
ABACUS DEVELOPMENT PTE LTD
71, LORONG 23. GEYLANG
DIRECTORS PANG YEE HONG
ABDUL JABBAR BIN KARAMDIN (RESIGNED APRIL 2007)
COMPANY SECRETARY POH CHING YEE
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Dear visitors:
Your comments are most welcome!
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 :)